Vodafone earnings date
Vodafone (VODJ) Q2 2027 Earnings Report
DE:VODJ Q2 2027 EPS Results
- Actual EPS
- EUR 0.15
- Consensus EPS
- EUR 0.55
- Beat/Miss
- Missed by -EUR 0.40
- One Year Ago EPS
- EUR 0.73
DE:VODJ Q2 2027 Revenue Results
- Actual Revenue
- EUR 22.93B
- Expected Revenue
- EUR 11.80B
- Beat/Miss
- Beat by +EUR 11.13B
- YoY Revenue Growth
- +12.00%
Earnings Announcement Details
- Quarter
- Q2 2027
- Date
- 11/10/2026
- Time
- Before Open
- Conference Call
- Tuesday, November 10, 2026
Vodafone's next earnings date is estimated for May 18, 2027, based on past reporting schedules.
Q2 2027 Earnings Call Audio
Q2 2027 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2027 Earnings Call Summary
The call was strongly positive overall. Management highlighted accelerated group growth, upgraded FY27 guidance, strong adjusted free cash flow momentum, rapid cost savings, improved customer metrics and growth across Africa, B2B and digital services. Germany, the ECJ-related EUR 100 million EBITDA impact, the noncash impairment, cost inflation and legal proceedings were notable challenges, but management said the European outlook was reconfirmed and described the business as entering a new growth chapter.
Vodafone upgraded its FY ’27 group guidance: the midpoint of the new group ranges implies organic growth of 7% for adjusted EBITDAaL and 21% for adjusted free cash flow, with the midpoint of the upgraded guidance range also described as implying organic growth just above 20% in adjusted free cash flow; Europe’s guidance was reconfirmed, with Europe stable at the midpoint, despite the EUR 100 million ECJ impact. The company expects over EUR 200 million of net OpEx reduction for the full year, after delivering over EUR 200 million of gross savings in the first 6 months, and remains committed to over EUR 2 billion of annual gross savings by FY ’30, translating into over EUR 1 billion of annual net OpEx savings, removing more than 30% of addressable costs and equivalent to more than 10% of adjusted EBITDAaL in Europe, or 13% of Europe EBITDA. Vodafone also reiterated its medium-term ambition to deliver double-digit organic growth in adjusted free cash flow, while U.K. operating cash flow is expected to more than triple by FY ’32.
- Guidance Upgraded on Strong First-Half PerformanceThe company upgraded its FY27 group guidance after a strong first half. The midpoint of the new ranges implies organic growth of 7% for adjusted EBITDAaL and 21% for adjusted free cash flow, with adjusted free cash flow growth just above 20% and accelerating toward the company's multiyear double-digit cash flow growth trajectory.
- Group Service Revenue Growth AcceleratedGroup service revenue growth accelerated to 6.4% in Q2, the highest rate in 3 years, with both Europe and Africa growing.
- Adjusted EBITDAaL and Free Cash Flow MomentumAdjusted EBITDAaL growth accelerated to 6.4% in the first half, supported by strong top-line growth and margin expansion. The company said it was on track to deliver very strong adjusted free cash flow growth.
- Record Vodafone Business GrowthVodafone Business delivered its best-ever growth of 6.6%, supported by a record performance from the digital services portfolio and expanded smart, secure and sovereign solutions for business and public-sector customers.
- Double-Digit Growth in Africa and TurkiyeAfrica and Turkiye both reported double-digit organic growth in the first half, which continued to translate into strong growth in euro terms.
- Portfolio Simplification and Safaricom ExpansionVodafone completed two important transactions in the first half: increasing its stake in Safaricom in June and taking full ownership of VodafoneThree in the U.K. in July. The Safaricom transaction strengthened exposure to the operator and its M-Pesa financial-services platform, while full ownership of VodafoneThree provides greater flexibility and 100% of the value created.
- VodafoneThree Synergy and U.K. OutlookFollowing full ownership of VodafoneThree, Vodafone raised its annual cost and CapEx synergy targets and provided a midterm outlook in which U.K. operating cash flow is expected to more than triple by FY32.
- Fast Start to Cost TransformationVodafone delivered more than EUR 200 million of gross savings in the first 6 months, supported by 3,000 role reductions and the first EUR 50 million of U.K. synergies. The company has clear line of sight to more than EUR 200 million of net OpEx reduction for the full fiscal year.
- Large-Scale Savings ProgramThe cost program targets more than EUR 2 billion of annual gross savings by FY30 across Europe and shared operations, translating into more than EUR 1 billion of annual net OpEx savings. The program is expected to remove more than 30% of addressable costs, with the net savings target equivalent to more than 10% of adjusted EBITDAaL in Europe.
- Customer Satisfaction ImprovementsVodafone reported improving customer satisfaction across all products and segments, leadership positions in customer satisfaction in 12 markets, and continued growth in mobile customer loyalty. Customer journeys are being simplified and issues are being resolved faster, often with AI assistance.
- Progress in Germany's Broadband and B2B BusinessesDespite acknowledging that more work is required in Germany, the company reported consistent growth in consumer broadband and B2B. Germany's B2B business represents roughly 25% of German revenue, with roughly 25% or slightly more of B2B revenue coming from digital services.
- German Digital Services ExpansionGerman digital services grew 30% in the first half. Vodafone cited growth in cloud, AI and security, including an AI concierge for SMEs, a German cybersecurity operations center, a sovereign AI proposition and more than 100 contracts signed with Vodafone customers through Skaylink over the last two quarters.
- Germany Headcount SimplificationVodafone announced 2,300 additional role reductions in Germany. Combined with prior actions, German headcount will have been reduced by 40% since the transformation began; the first wave alone reduced headcount in Germany by 20%.
- B2B Digital Services Portfolio Exceeds EUR 2 BillionThe broader digital services portfolio now generates more than EUR 2 billion of revenue, extending Vodafone beyond core connectivity into cloud, IoT, security and other digital solutions.
- Attractive Africa and B2B Growth DriversVodafone highlighted Africa's growing customer base, population growth, increasing data usage, next-generation connectivity and fintech platform with more than 100 million users and millions of merchants. In B2B, Vodafone serves 5 million customers and is expanding into cloud, security, AI and other digital services.
- OXG Fiber Rollout ProgressVodafone said OXG had reached 1.1 million households and expects to reach 1.4 million by the end of the fiscal year, building across more than 75 cities. The company described itself as probably the second-biggest fiber builder in Germany.
- Broadening Gigabit Access in GermanyVodafone is continuing to invest in its cable network, fiberizing it closer to buildings, increasing uplink speeds for business customers and building fiber through OXG partnerships. Including wholesale fiber in DSL areas, Vodafone can offer gigabit products to more than three-quarters of German households.
- Enhanced OXG Funding PositionSocGen replaced Altice as a partner in OXG. Vodafone said SocGen's participation provides an enhanced funding position and full strategic flexibility, while the joint venture's governance and objectives remain unchanged. Funding will be a mix of debt and equity, with Vodafone's equity contributions phased over the duration of the build.
DE:VODJ Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| May 18, 2027 | 2027 (Q4) | 0.41- | -0.56 | ― | ― |
| Nov 10, 2026 | 2027 (Q2) | 0.550.15 | 0.73 | -79.43% (-0.58) | |
| May 12, 2026 | 2026 (Q4) | 0.29-0.56 | -2.01 | 72.08% (+1.45) | |
| Nov 11, 2025 | 2026 (Q2) | 0.450.73 | 0.38 | 93.25% (+0.35) | |
| May 20, 2025 | 2025 (Q4) | 0.21-2.01 | 0.37 | -645.70% (-2.38) | |
| Nov 12, 2024 | 2025 (Q2) | 0.200.38 | -0.13 | 398.56% (+0.50) | |
| May 14, 2024 | 2024 (Q4) | 0.490.37 | 3.81 | -90.32% (-3.44) | |
| Nov 14, 2023 | 2024 (Q2) | 0.32-0.13 | 0.33 | -138.29% (-0.46) | |
| May 16, 2023 | 2023 (Q4) | 0.643.81 | 0.29 | 1230.38% (+3.53) | |
| Nov 15, 2022 | 2023 (Q2) | 0.460.33 | 0.35 | -5.71% (-0.02) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
