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Vodafone Posts 7.5% Growth in Quarterly Revenue

3:09 am on July 20, 2007 | Category: Business, Telecom Services, Wireless

The world’s largest wireless carrier, Vodafone Group, reported a 7.5% increase in first-quarter revenue yesterday, crediting strong performance from its recently acquired businesses in India and Turkey for canceling out weak results in the highly saturated western European market.

Vodafone posted revenue of Â£8.25 billion (US$17 billion) for its fiscal first quarter, the three-month period ending on June 30. Organic revenue growth, which does not include disposals and acquisitions, came in at 4% for the past year.

The company added a net total of 9.1 million mobile phone subscribers in April, May, and June, giving it a global total of 232 million customers. Developing markets accounted for the majority of these gains.

“We have made a good start to the financial year, with a strong performance from the EMAPA (Eastern Europe, Middle East, Africa, Asia Pacific and Affiliates) region, offsetting continued challenging markets in Europe,” commented Vodafone CEO, Arun Sarin. “We continue to make progress in the execution of our strategic objectives.”

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