It is not an easy time for Vodafone, which is finding it difficult to react to the pitfalls of the economic situation. The English telephone operator, present in markets all over the world, recorded a slowdown in the first quarter (April-June) which forced it to cut medium-term forecasts and to carry out write-downs for 4 billion.
Revenues reached 9,98 billion, up 0,6%, below the consensus forecast for growth of 0,9%. In the previous quarter, growth had been 2,8%. The difficulties encountered in the Southern European markets, especially Spain and Italy, held back Vodafone's result. The stock is losing more than 2% on the London stock exchange.
