Vodafone Reports Record Loss
Vodafone reported a loss of 13.5 billion GBP, the biggest British corporate loss to date. The good news is that Vodafone is still growing well operationally with EBITDA at 10.1 billion GBP, at the high end of analysts expectations. They expect slightly under 10 percent customer growth for the current fiscal year, much lower than the last few years when everyone was signing up for mobile phone service. Some analysts worry that slowing growth and increasing competition will eventually catch up with Vodafone. The key to future growth is data services, but they may not start paying off till the second half of this decade.