“Vodafone Group Plc (VOD) reported service revenue that missed estimates and a 5.9 billion pound ($9.4 billion) writedown in Spain and Italy that sank the world’s second-largest mobile-phone company into a first-half net loss.
Service sales fell 1.4 percent in the second quarter ended Sept. 30 excluding the impact of acquisitions and currency fluctuations, Newbury, England-based Vodafone said today. That’s the first decline in 10 quarters and double analysts’ projection for 0.7 percent contraction compiled by Bloomberg. The first- half net loss was 1.98 billion pounds, after a 6.68 billion- pound profit a year earlier.”
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