Vodafone
Apple wasn't the only one to disappoint analysts as Vodafone this morning warned that annual revenues would be near the bottom of its forecast range. It’s shares were down 13 percent in early trading.
Chief executive Arun Sarin, who steps down next Tuesday, said: “Notwithstanding this more challenging operating environment, we continue to benefit from a diversity of assets and services, with strong revenue growth in EMAPA and another good quarter of data revenue growth offsetting weakness in Spain.
“Whilst we expect revenue around the bottom of the outlook range, our continued focus on cost reduction enables us to reiterate our operating profit and cash flow guidance for the year.”
Press release: Apple Reports Record Third Quarter Results
