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 Send to email | Vodafone Beats Street, CEO Sarin To Retire (VOD) in AAPL |  By Silicon
el 27-May-2008 |
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 Vodafone, the world's largest wireless carrier by revenue, beat analysts' 12-month sales and profit expectations, and announced that CEO Arun Sarin would step down in July -- an unexpected retirement.
Vodafone posted 35.48 billion ($70 billion) of revenue in the 12 months ending March 31, up 14% year-over-year and beating analysts' 35.32 billion consensus, according to MarketWatch. The carrier made 6.66 billion ($13.2 billion) of profit during the year, beating analysts' 6.26 billion estimate.
Leading growth: Emerging markets and data revenue, which jumped 41% year-over-year. Also making a "huge" impact, according to Vodafone's CFO: Foreign exchange rates. Vodafone had 260 million subscribers at the end of March.
The company also said five-year CEO Arun Sarin would step down in July; he'll be succeeded by deputy Vittorio Colao. AP:
Sarin, 53, faced disquiet two years ago when nearly 10 percent of Vodafone shareholders voted against his re-election as chief executive. Investors were unhappy about an acquisition-heavy expansion and calls for a spin off its stake in U.S. subsidiary Verizon Wireless.
Sarin has been credited with expanding Vodafone's operations in fast-growing emerging markets, such as Eastern Europe and India, through a series of large acquisitions, culminating in last year's 5.7 billion pound purchase of a controlling stake in Hutchison Essar, one of India's biggest mobile-phone groups.
Sarin also secured a deal to sell Apple's (AAPL) iPhone in 10 countries -- including Australia, European countries, and India -- "later this year."
See Also:
Apple's iPhone To Land In India, Australia, Italy, Seven Other Markets
Vodafone Bets On Social Networking, Buys Its Own
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| Sarin quits Vodafone | | Surprise departure
Arun Sarin is leaving Vodafone. The chief executive departs as the mobile group’s profits pass £10bn for the year.
TheRegister [..] Read complete article | | Published 27-May-2008 by Nerdblog in General
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| Vodafone sees American horizons | | Sarin makes one last lunge
Verizon, the US mobile operator part-owned by Vodafone, is in talks to take over Alltel, America’s fifth largest operator, with a view to snatching the number-one spot from AT&T.
TheRegister [..] Read complete article | | Published 05-Jun-2008 by Nerdblog in General
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| Vodafone officially announces the AppleBerry iStorm; Huh? |  Visitors to Vodafone’s Storm launch pages last night were greeted by some very interesting imagery. If seeing is believing, then apparently Vodafone just dropped the most jaw dropping handset imaginable - a touchscreen BlackBerry running Apple’s mobile OS X… And it’s already jailbroken! That’s right people, when Vodafone’s BlackBerry Storm pages first went up on [..] Read complete article | | Published 08-Oct-2008 by Zach Epstein in BlackBerryHandsetsRIMVodafoneAppleiphone 3gstorm
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