Vodafone reports smaller-than-estimated decline in full-year profit

e14news — Thu, 07 Oct 2021 09:43:25 GMT

Current Revision posted to Documents by e14news on 10/7/2021 9:43:25 AM
In news that may interest wireless communication device manufacturers, Vodafone Group Plc, the world's largest mobile phone company, has reported a smaller-than-estimated decline in full-year profit.

The figures were helped by demand for smartphone data services, Vodafone said.

Before interest, taxes, depreciation and amortization, earnings fell 0.4 per cent to £14.7 billion from a year earlier.

Sales, meanwhile, rose 3.2 per cent to £45.9 billion pounds, the company said in a statement.

"These numbers will be well received from the market as there were some concerns that they would miss estimates," commented Atif Latif, an analyst at Guardian Stockbrokers in London.

"They are finally starting to win back market share."

In other news, a new study has revealed that almost 20 per cent of US smartphone owners are utilising check-in services like Foursquare.

Digital measurement specialist comScore said that 16.7 million people leveraged this type of platform in March 2011.

The research also found that 12.7 million shoppers recorded their current whereabouts through a smartphone.