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Vodafone reports underlying earnings growth after European recovery

Mobile phone operator Vodafone posted its first underlying growth in both full-year revenue and core earnings since 2008, helped by a return to top-line growth in Europe in the fourth quarter.

The world's second-largest mobile phone operator reported full-year revenue of 40.97 billion pounds ($59 billion), up 2.3 percent on an underlying basis and broadly meeting market forecasts, helped by a better performance in South Africa, Egypt and Turkey.

Daniel Berehulak | Getty Images

It posted earnings before interest, tax, depreciation and amortization of 11.61 billion pounds, slightly shy of forecasts.

It said it expected underlying earnings growth to accelerate to 3-6 percent this year.

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