Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Vodacom Quarterly Revenue Rises 3% as Smartphone Users Gain

July 18 (Bloomberg) -- Vodacom Group Ltd., South Africa’s largest wireless operator, said revenue rose 3 percent in the second quarter to 17.5 billion rand ($1.77 billion) as more customers switched to smartphones.

Vodacom, which is 65 percent-owned by Vodafone Group Plc, boosted subscriber numbers by 5.3 percent in the three months through June to 51.5 million as international operations continued to expand, the company said in a statement today.

“Data and the International operations remain key parts of the growth story,” Chief Executive Officer Shameel Joosub said in the statement.

Vodacom is becoming increasingly important for its Newbury, England-based parent as Vodafone seeks ways to offset a slide in its European businesses.

Vodacom shares rose 1.4 percent to 115.08 rand as of 12:53 p.m. in Johannesburg trading. The stock has declined 7.2 percent this year, compared with a 3.6 percent gain by MTN Ltd., South Africa’s second-biggest operator.

To contact the reporters on this story: Kamlesh Bhuckory in Johannesburg at kbhuckory@bloomberg.net; Chris Spillane in Johannesburg at cspillane3@bloomberg.net.

To contact the editors responsible for this story: Kenneth Wong at kwong11@bloomberg.net; Simon Thiel at sthiel1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.