Vodafone ups forecasts to include Safaricom, see earnings at upper end of new range

European and African mobile operator Vodafone raised its guidance on Monday, 27 July, to reflect its Safaricom deal, and said it expected to deliver results at the upper end of its new range after a solid first-quarter trading.

28 Jul 2026

People enter a Vodafone store in Sydney, Australia, 29 September 2025. Reuters/Hollie Adams

Chief executive Margherita Della Valle said the group had made a "good start to this financial year", with broad-based growth across its business driving a 5.2% rise in organic service revenue, boosted by Turkey and Africa.

Adjusted core earnings rose 6.2% in the quarter thanks to cost savings as well as the top-line growth.

Vodafone said it now expected to report adjusted core earnings of €13.0bn to €13.3bn ($14.83bn-$15.18bn) and adjusted free cash flow of €2.6bn to €2.9bn for the year to end-March 2027.

Analysts had expected the company to raise its guidance after it took control of Kenya-based Safaricom last month.

Ahead of Monday's trading update, they had forecast Vodafone would report adjusted core earnings including Safaricom of €13.1bn and adjusted free cash flow of €2.78bn for the year, according to a company-compiled consensus.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/