Trending: Vodafone Says It 'Can Do Better' After 3Q Revenue Drop

1029 GMT - Vodafone Group PLC is among the most mentioned topics across news items over the past four hours, according to Factiva data, after the company reported a fall in revenue over the third quarter and said that it "can do better." Total revenue for the quarter ended Dec. 31 fell 0.4%, with service revenue down 1.3% although both were up on an organic basis--2.7% and 1.8% respectively. It said that declines in Germany, Italy and Spain partially offset by good growth in U.K. and other European countries. Vodafone's third-quarter update showed a major disappointment in Spain and no substantive strategy update, Jefferies analysts Jerry Dellis and Yi Hsin Yeoh said in a research note. The U.K.-based telecommunications company's deteriorating Spain performance is a reminder of the competitive set up of the market, with five mainstream rivals and a number of wholesale challengers, they say. Interactive Investor's head of markets Richard Hunter wrote that Vodafone is facing the twin perils of an extremely competitive landscape and some deteriorating economic conditions. Shares are trading 2.2% lower at 91.07 pence. Dow Jones & Co. owns Factiva. ([e-mail].)

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February 01, 2023 05:45 ET (10:45 GMT)

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