Vodafone share price: what to expect from its Q1 results

After revealing a massive £6.6 billion loss and cutting its dividend in its annual results in May, the British telecoms company will need to record a strong start to the new year to support its share price.

When is Vodafone’s results date?

Vodafone Group will hold its annual general meeting (AGM) on July 23 and unveil its Q1 results on July 26.

Vodafone’s results preview: what does the City expect?

In May, Vodafone revealed a £6.6 billion loss in its full-year results that saw it slash its dividend by 40% in an effort to reduce the amount of debt on its balance sheet and invest in superfast 5G broadband.

With the telecoms company’s first quarter results set to be released on Friday next week, it will be hoping to kick the new financial year off on strong footing to avoid its share price falling any further.

In the wake of its disappointing full-year results its share price tumbled more than 11%, hitting 123p a share, with its share price capable of falling below that level next week if its unable to deliver a strong performance in its Q1 results.

Its share price is currently hovering at around 127p levels as of 13:25 GMT on Thursday.

Vodafone’s full-year 2020 guidance sees it targeting an adjusted EBTDA of €13.8 billion - €14.2 billion, implying low single digit organic growth, with free cash flow of at least €5.4 billion.

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Vodafone bosses pledge to cut bonuses ahead of AGM

In a gesture of goodwill to shareholders and in response to its disappointing performance, Vodafone’s senior management, including its CFO and CEO have voluntarily taken a 20% cut in their annual share award bonuses.

Its management team has put the voluntary bonus cuts on the agenda of its next AGM for shareholders to vote on next week.

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