StockMarketWire.com - Telecom giant Vodafone reiterated its full-year earnings guidance after it grew its revenue by 6.8% in the third quarter.

Revenue in the three months through December rose to €11.75bn, up from €11.00bn, on-year.

Organic service revenue rose 0.8%, with a decline in Europe more than offset by growth elsewhere.

Vodafone stuck to its full year guidance for earnings before interest, tax, depreciation and amortisation of €14.8bn-to-15.0bn, with free cash flow, pre-spectrum, of around €5.4bn.

During the third quarter, the company said an ongoing recovery in Spain and acceleration in the UK was offset by a tougher prior-year comparison in Italy.

Retail revenues grew in Germany, supported by strong cable broadband net adds, it added.

Chief executive Nick Read said Vodafone had maintained momentum in the quarter.

'Competition in Europe remains challenging, primarily in the value segment, however we continued to improve customer loyalty and to grow in broadband, and we achieved good growth in Africa,' Read said.

The company expected a further gradual improvement in service revenue growth in the fourth quarter, led by Europe, he added.



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