Vodacom (Buy, TP: ZAR150, +50%) Q2 25: Soft vs. expectations
Vodacom has reported a soft set of Q2 results relative to expectations. However, trends remained solid, especially top line which continued to grow close to double digit growth. This is encouraging and we continue to think that the tide is turning in SA (please see HERE for more details), but it seems the turn will take longer than we hoped.Vodafone Group provides mobile and fixed telecommunication services including: access charges, voice and video calls, messaging, interconnect fees, fixed and mobile broadband and related services such as providing televisual and music content, connection fees and equipment sales. Co. provides a range of consumer products and services including mobile, fixed voice, broadband and television, financial as well as other services to operators outside its footprint. Co. also provides a range of enterprise products and services including total communications such as mobile, fixed and a suite of converged communications services, internet of things, cloud and hosting and carrier services.
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