Covid lockdowns proved bad news for phone firm as less mobile people translated into lower roaming charges
Shares in Vodafone slumped by as much as 7% as investors reacted to lower than expected profits, a decline inrevenues due to the impact of pandemic travel bans and a drop in smartphone sales. The news made the mobile company the biggest faller on the FTSE 100.
While Vodafone swung back to the black last year, reporting profits of €536m (£461m) compared with a loss of €455m in 2019, the result was at the lowest end of the company’s guidance and disappointed City expectations.
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Covid lockdowns proved bad news for phone firm as less mobile people translated into lower roaming charges
Shares in Vodafone slumped by as much as 7% as investors reacted to lower than expected profits, a decline inrevenues due to the impact of pandemic travel bans and a drop in smartphone sales. The news made the mobile company the biggest faller on the FTSE 100.
While Vodafone swung back to the black last year, reporting profits of €536m (£461m) compared with a loss of €455m in 2019, the result was at the lowest end of the company’s guidance and disappointed City expectations. Continue reading…Technology | The Guardian