FinanceSQ

Vodafone’s stocks sink 4% after Q1 2021 earnings

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Friday was a big day for Vodafone shares. They plunged over 4% on Friday after the release of the company’s financial report for the first fiscal quarter of 2021.

This telecommunication giant quarterly revenue landed at €10.51 billion, €20 million short of the expected figure. At 12:20 pm CET, Vodafone stocks tumbled 4.38%, trading at £123.16 (~$156.75). Due to the coronavirus crisis, the market looks different every day, changing from minute to minute.

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This British firm knows this the best, as its shares lost over 16% since the start of the year. Earlier today, the company announced that it would list its mobile towers business in Frankfurt in a float worth between €10 billion and €20 billion. Still, the company will keep the majority stake.

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