Vodafone Group Is Down, But It's Certainly Not Out
Vodafone (NASDAQ: VOD ) shares dropped 5% on the fourth-quarter earnings release, providing investors with an ideal entry point. After the disposal of Verizon Wireless to Verizon Communications (NYSE: VZ ) , investors got a view into the stand-alone operations of the mostly European and India wireless operator and the market didn't like that initial view of Vodafone. It's important for investors to step back and assess the situation now.
Hammered by Europe
Results for Vodafone from the fourth quarter that ended in March were greatly affected by a European market that remains extremely weak. Organic service revenue in the region plunged 9.1% from the prior-year period, pushing down full-year revenue by nearly 4%.
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