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Vodafone's revenue lifted by Liberty Global acquisition

Full-year guidance remained unchanged as revenue rose 6.8% for the three months to 31 December

Vodafone Group plc - Vodafone's revenue lifted by Liberty Global acquisition

Vodafone Group plc (LON:VOD) posted higher revenues as it continued the integration of the acquired Liberty Global businesses.

Last summer, the FTSE 100-listed telecom giant acquired the operations of its competitor in Germany, the Czech Republic, Hungary and Romania for €18.4bn.

READ: BT, Vodafone and TalkTalk face “disruption” from new price war

The new additions lifted revenue for the quarter to 31 December to €11.7bn, up 6.8% compared to the same period last year.

Group service revenue, which comprises ongoing network charges such as monthly packages and roaming fees, inched up 1% to €9.7bn.

Foreign exchange headwinds hit accounts by €100mln.

Guidance for performance for the year to March remained unchanged.

Richard Hunter from interactive investor said the long-term challenges such as competition remain but the steps the company is taking at the moment are "sustainable".

"There is still much damage to repair, since the shares have lost over 30% in the last two years, but for the moment the market is buying into the recovery story with the consensus of the shares as a strong buy remaining resolutely in place," he said.

Shares rose 2% to 153.8p on Wednesday morning.

Quick facts: Vodafone Group plc

Price: 116.08 GBX

LSE:VOD
Market: LSE
Market Cap: £31.08 billion
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