Vodafone Boosts Guidance as Core‑Business Focus Drives Revenue

Vodafone, in its second quarter of 2024, lifted its revenue outlook after a 12% rise driven by a focused core‑business strategy.

Core‑Growth Strategy

■Planned $3.8 billion investment in 5G infrastructure

■15% increase in active subscribers through digital initiatives

■Operating margin on mobile data packages up to 2.3%

Key Financial Highlights

■Q1 2024 revenue €1.3 billion (YoY +9%)

■Operating profit €580 million (YoY +5%)

■Revised annual net‑profit guidance €1.6 billion

Market Reaction

■Shares rose 4% to €13.20 following the announcement

■Analysts lifted 2024 target by 7%

■Despite fierce competition, Vodafone’s digital transformation narrative stood out

Competition and Future Outlook

■Rivals: Telefonica, Orange, Telefónica Mobile

■5G rollout aims to capture 25% of the European market share

■ESG report slated for completion by 2025

Markets view Vodafone’s pivot to a core‑business model as a turning point in its risk‑on cycle. Investors are cautiously optimistic about the long‑term returns from 5G investments.