Vodafone lifts outlook as it returns to growth


Vodafone has lifted its outlook for the year.

The world's second-largest mobile network operator says core earnings could now go as high as 15 billion euros - about 16.5 billion dollars.

That's up from a maximum of 14.2 billion euros in earlier outlooks.

The firm is feeling more hopeful after revenues returned to growth.

They were up 0.3% in the first half.

Core earnings rose 1.4%.

Vodafone says conditions improved in Spain and Italy.

Retail sales in Germany also did well.

Now investors will hope it's evidence of a sustained turnaround.

Chief Executive Nick Read cut Vodafone's dividend for the first time in May.

Tough market conditions and a need to invest in networks forced him to drop a pledge not to trim the payout.

Vodafone shares tumbled following the move, but have recovered about 30% since.