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FINANCIAL NEWS
Vodafone Qatar loss narrows to USD7.5m in Q1
23 Jul 2014
(MENAFN) Vodafone Qatar, an affiliate of Vodafone Group, posted lower losses for the first three months of the current year on Tuesday, resulted from higher revenue and growing subscriber numbers, according to Arabian Business.
Vodafone’s net loss was estimated at USD7.5 million in the quarter, according to a statement on its website. Its financial year begins on April 1.
The company’s loss was better than its USD23.30 million loss it posted in the same period in 2013, and better than the analysts’ forecast by Reuters, who expected a USD10.29 million loss.
Vodafone, which ended Ooredoo’s domestic monopoly in 2009, was boosted by 27 percent year-on-year growth in first-quarter revenue to USD160.56 million.
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