Vodafone revenue shows resilience

Vodafone’s revenue for the first quarter of its 2021 financial year has shown resilience, with its service revenue falling by 1.3%.

The slight dip was attributed to impacts of COVID-19.

However the decline in service revenue was more pronounced in some regions. Italy’s service revenue fell by 6.5% due to lower roaming revenue – and it was a similar scenario in Spain as revenue declined by 6.9%.

Unveiling the performance during the quarter, Chief Executive Nick Read highlighted the headwinds of travel restrictions but also the resilience of revenues:

“Our trading performance in the first quarter demonstrates the relative resilience of our operating model and focused delivery of our strategic priorities. Whilst we have seen the direct impact on our revenue from travel restrictions and business project delays, we have also seen increased usage in voice and data, alongside record NGN broadband customer net additions in Europe.”

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