Vodafone Group PLC shares plummeted 14 percent on Tuesday after the mobile phone company scaled back its full-year sales forecast as tough economic conditions led consumers to refrain from buying and using new handsets.
Vodafone said it now expects revenue to be at the bottom of its 39.8 billion pound (US$79.8 billion) to 40.7 billion pound (US$81.6 billion) range, dragging the telecommunications sector lower and casting a shadow over the last set of results presided over by outgoing CEO Arun Sarin.
"Telecoms results, globally, have shown remarkable resilience to date to the economic slowdown, but Vodafone has kicked off the telco results season with a …
No comments:
Post a Comment