British mobile operator Vodafone Group Plc increased revenue in the first quarter of fiscal 2026 by 3.9 per cent and improved its full-year profit forecast.
According to a Vodafone press release, revenue reached €9.39 billion in the quarter ended 30 June, up from €9.04 billion a year earlier.
Service revenue, the company’s key metric, was up 5.3% to €7.86bn. In organic terms, the figure was up 5.5 per cent.
Adjusted earnings before tax, interest, depreciation and amortisation and including leasing (EBITDAaL) rose to €2.75bn from €2.68bn a year earlier. Organic growth in the figure was 4.9 per cent, it said.
Operating profit fell 1.5 times to €1.02bn. The company said the decline was due, in part, to the fact that the first-quarter figures for last year included gains from the sale of a stake in Indus Towers.
Vodafone has updated its full-year forecast and now expects adjusted EBITDAaL of EUR11.3-11.6bn in FY2026 (May forecast EUR11-11.3bn) and free cash flow excluding one-off factors of EUR2.4-2.6bn (previously EUR2.6-2.8bn).
The company has completed share buybacks within the first tranche of the €2bn buyback programme announced in May and launched the second tranche for €500m.
Vodafone shares are up 0.7 per cent in London trading on Thursday. The company’s capitalisation has risen 22.6% since the start of the year, while the FTSE 100 index has added 11.2% over the period.