Vodafone recharge as number of users and profits climb

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There is big competition in the mobile market with the various networks trying to get our custom, and more importantly our cash. Today we have news that Vodafone recharge results as the number of users and profits climb.

The carrier beat market expectations to report a 4.1 percent rise in revenues to £23.5billion, and according to The Guardian saw 9.4 million new customers join the carrier in the last six months. The competition is pretty competitive in the UK where the biggest carrier Everything Everywhere, saw subscribers drop in recent months.

But Vodafone managed to add 325,000 new customers in the country to reach a total of 19.3 million subscribers. Revenues in the UK climbed by 2.7 percent to £2.6 billion with profits reaching £633 million, up 5.7 percent.

The carrier saw strong growth in Germany adding 804,000 new customers with Spain gaining 170,000, but it lost 148,000 customers in Italy on its prepaid service. Globally subscribers rose by 2.5 percent to reach 391 million. The biggest increases were from its subsidiary Vodacom in Africa, Egypt, and India.

Vodafone did see a drop in revenue from voice calls in Europe though of 270 million, but texting and data traffic saw big rises though. Almost 22 percent of the company’s users now use smartphones, which saw revenues from mobile internet climb 27 percent from £336 million to £1.6 billion.

Vodafone also confirmed its US subsidiary, Verizon Wireless would be paying out a £2.6 billion dividend in January of next year, and £2 billion of that would be passed on to shareholders via a special dividend.

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