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Vodafone posts better than expected Q3 sales

A steady recovery in Europe helped Vodafone to stem the rate of sales decline in its third quarter, putting the world's second biggest mobile operator in touching distance of overall revenue growth once again.

A pedestrian walks past a Vodafone store in London.
Jason Alden | Bloomberg | Getty Images
A pedestrian walks past a Vodafone store in London.

The British company said on Thursday its main organic service revenue measurement, which strips out items like handset sales and currency movements, fell 0.4 percent in the three months to the end of December, an improvement on the 1.5 percent fall in the second quarter and a forecast of a drop of 0.7 percent.

The group had recorded falls in the main revenue measurement of between 4 and 5 percent in the last six quarters as consumers in Europe cut back on using their phones and regulatory changes forced operators to cut their fees.

It reiterated its guidance for the full year.