Vodafone: service revenue grew 1.7% in third-quarter.

(CercleFinance.com) - Vodafone shares are down today in London after the mobile operator said group organic service revenue grew 1.
7% in its fiscal third-quarter, compared to a 1.6% consensus.

In detail, organic service revenue growth reached 0.7% in Europe and 3.9% in Africa, Middle East and Asia Pacific (AMAP) in the quarter ended 31 December 2016.

In a report issued this morning, Haitong Research analysts still note that performances in Germany, the UK, Spain, India and South Africa were below consensus expectations.

The brokerage firm also points out that the group now expects to meet the lower end of its Ebitda guidance range for fiscal year 2017.

Vodafone says performance in Europe and Africa is mitigated by continued uncertainty in India.

"We think we and consensus will trim forecasts and thus also fair value estimates," Haitong Research reacts, maintaining its "neutral" view on the stock with a 220 pence fair value.

Shares of Vodafone are currently 1.5 percent at 190.2 pence.

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