A raft of key quarterly earning updates from FTSE 100 companies are due over the next week, including telecom firms Vodafone and BT, along with pharma giant Astrazeneca.
Vodafone’s earnings due
In May, Vodafone’s total group revenue fell 2.5 per cent to €37.7bn (£31.8bn) for 2023 to €36.7bn (£30.9bn) for 2024. The international telecoms company is set report its first-quarter results on Thursday. Analyst consensus for 2025 is for group revenue of €37.3bn (£31.4bn).
In May, Vodafone’s total group revenue declined from €37.7bn (£31.8bn) in 2023 to €36.7bn (£30.9bn) for 2024. Analyst consensus for 2025 anticipates group revenue to reach €37.3bn (£31.4 bn) when the telco releases its first-quarter results on Thursday.
Under the leadership of chief executive Margherita Della Valle, Vodafone has started to divest underperforming business units, such as its Spanish and Italian units. She has, however, ruled out any more major deals as part of her strategy to simplify and streamline the firm.
Attention will be focused on any updates regarding Vodafone’s ongoing merger with Three. The company has been waiting for the competition regulator to rule on whether its proposal to merge its UK operations with those of Three is allowed.
BT set to report
BT will also report its first quarter update to the market on Thursday. In its last update, the company reported revenue of £20.8bn, up slightly against the £20.7bn reported for the previous year. However, profit before tax plummeted 31 per cent.
However, BT shares surged after the announcement as the company said its mulit-billion pound investments in 5G and fibre technology had started to pay dividends.
The company’s second-quarter numbers should provide some further insight into the company’s shift from investment to growth.
Eyes on FTSE 100 giant Astra
Astrazeneca, the largest London-listed firm by market cap, is set to post interim results next week. It reported revenue of $45.8bn (£36bn) in 2023 and laid out plans to hit $80bn (£62.9bn) in total revenue by 2030 through the launch of new medicines and technology investments.
Although its first quarter results topped analyst expectations, it maintained its full-year guidance of low double-digit to low teens percentage growth.
“Next week, markets find out if that momentum carried over into the second quarter and if there’s been any change to the outlook for 2024,” said Derren Nathan, head of equity analysis at Hargreaves Lansdown.
“Currently, management anticipates low double-digit to low teens growth for both revenue and underlying earnings per share (EPS), when ignoring exchange rates,” he added.
Investors are eager to see the commercial prospects of Astrazeneca’s recently approved medicines and the impact of new acquisitions.