Feeds

Vodafone revenues hit as customers in Europe hang onto their cash

Verizon buy in the US saved it from posting even more dire results

The essential guide to IT transformation

The end of Vodafone's financial year saw the company writing down £7.7bn in assets, leaving it with a profit of only £673m based on annual revenue which declined 4.4 per cent to £44.4bn.

The revenue drop was the largest ever for the telecommunications giant, it said.

The bright spot in the Vodafone numbers was again Verizon, which managed to contribute £6.4bn to revenue, but Vodafone shareholders won't be getting any of the £2.1bn dividend Verizon paid last week. Instead, Voda will use it for running costs and deploying all those 4G networks it has committed to building across Europe and elsewhere.

Those networks will cover 40 per cent of the bigger European markets by March 2015, with HSPA covering 80 per cent in the same timeframe. This is important given 54.8 per cent of Vodafone customers are now using smartphones on contracts, and therefore consuming a good deal more data.

Not that Europe is making much money for the company - revenue from Italy and Spain declined 12.8 and 11.5 per cent respectively. But despite all that Vodafone still did marginally better than analysts had expected, resulting in an improved shareholder dividend (up seven per cent). The share price remained flat. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?