Vodafone Group PLC said Monday that performance in its first quarter of fiscal 2023 was in line with its expectations after continued growth in Europe and Africa.
The U.K.-based telecommunications company said that revenue for the first quarter ended June 30 was 11.28 billion euros ($11.52 billion) compared with EUR11.10 billion a year earlier.
The company said it is on track to deliver fiscal 2023 guidance, with adjusted earnings before interest, taxes, depreciation and amortization between EUR15.0 billion and EUR15.5 billion.
“We have executed in line with our expectations, delivered another quarter of growth in both Europe and Africa, and seen an acceleration in business growth. Whilst we are not immune to the current macroeconomic challenges, we’re on track to deliver financial results for the year in line with our guidance,” Chief Executive Nick Read said.