Vodafone Q1 Revenue Down 7.7%

Vodafone Group PLC

reported weaker-than-expected revenue for the first quarter. Vodafone's quarterly revenue declined 7.7% to GBP10.77 billion pounds ($16.90 billion), versus analysts' estimates of GBP10.88 billion. Vodafone's annual net profit dropped 13% to GBP6.96 billion in May. Vodafone shares closed at $28.84 yesterday.