Vodafone: shares jump after strong 'beat and raise.'

(CercleFinance.com) - British mobile phone operator Vodafone raised its full-year outlook on Tuesday, after maintaining solid commercial momentum over the first half of the year, lifting its shares over 4%.


The group raised its full-year guidance for organic adjusted EBITDA growth to around 10%, up from 4%-8% previously, implying a range of 14.75 billion -14.95 billion euros.

For the six months ended 30 September, Vodafone posted adjusted EBITDA that was up 13% in organic terms at 7.4 billion euros.

UBS analysts said that the numbers should be warmly welcomed by investors, as almost every geographic area was significantly ahead of the consensus - particularly Germany, which saw a better performance in mobile, while Spain is benefiting from price increases.

Vodafone shares were the second highest climber on the FTSE 100 index on Tuesday morning, rising 4.5% to 255.9 pence; they have risen by over 13% year-to-date.

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