British mobile phone giant Vodafone, which is slashing thousands of jobs, revealed Monday that revenues fell in its third quarter on poor performance across Italy and Spain. Total revenues dropped 2.3 percent to 11.4 billion euros ($12.3 billion) in the three months to the end of December, compared with the same period a year earlier, Vodafone said in a trading update.
It added that revenues increased by 4.2 percent when stripping out the impact of currency effects, mergers and acquisitions, and hyperinflation in Turkey. “We maintained… revenue momentum in the third quarter,” said chief executive Margherita Della Valle, adding the group had made “good strategic progress”.—AFP
