Vodafone Australia service revenue and customers take a dip

The telco cites a 1.977 billion pound global net loss in the six months to September 30.

Service revenue and customer numbers are continuing to dwindle for the local arm of telecommunications provider, Vodafone Group.

The telco released its global half-year results to September 30, citing a 1.977 billion pounds net loss ($US3.18 billion), and an impairment charge of 5.9 billion pounds related to Europe’s financial woes particularly within Vodafone’s Italy and Spain operations.

Total revenues also took a 7.4 per cent dive to 21.78 billion pounds.

Vodafone chief executive, Vittorio Colao, stated the results reflected tough market conditions, which will continue to impact the telco in the short term.

The Australian arm suffered a service revenue decline of 14.4 per cent and lost 77,000 mobile customers in the six months to September 30.

The decline was attributed to the telco’s ‘arresting weakness in brand perception’ and is still working on improving its network woes.

The telco recently announced it would cut about 500 jobs and hired a specialised management team in an effort to turn its Australian business around.

Sponsored Content: Collaboration has become the new movement in IT. Servers will become an integral part of this industry transition. Click here to learn more.

Join the ARN newsletter!

Error: Please check your email address.

Tags profit lossrevenue lossVodafone Hutchison Australia

More about Vodafone

 

Latest News

10:47AM
Outlook app for Android and iOS boosts Microsoft's mobile comeback
10:43AM
MIT randomizes tasks to speed massive multicore processors
10:35AM
NEC aims at Big Data 'sweet spot' with new SAP Hana tool
07:17AM
BMW cars found vulnerable in Connected Drive hack
More News
23 Feb
Live Streaming Technology
05 May
CeBIT Australia 2015
27 May
World Business Forum Sydney
View all events