Vodafone Q1 earnings strengthened as cost cuts drive 1,200 European job cuts
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Vodafone's fiscal Q1 showed stronger service revenue and improving profitability, supported by ongoing cost cuts and confirmation of strategic actions including the Three UK merger completion and Safaricom acquisition. The results provide clearer evidence that the turnaround is translating into earnings traction, which can lift sentiment toward European telecom equities and broader risk appetite in the near term.
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Vodafone reported first-quarter results for the period ended June 30. Service revenue rose 10% year on year to €8.6 billion, while organic service revenue increased 5.2%. Adjusted earnings grew 6.7%.
The group said it has completed the merger with Three UK and the acquisition of Safaricom, and continues to advance its £700 million annual cost-reduction program.
Management described the quarter as the first clear validation since the start of its turnaround that profitability is improving, positioning the update as a meaningful operating catalyst for Vodafone's shares.
