Friday, 21 September 2018

Upbeat European telco results still carry a health warning

By Nick Wood, Total Telecom
Friday 29 May 15

When 'stability' is the cheeriest buzzword in a financial report, the champagne should probably remain on ice.

A glass-half-full attitude is all well and good, but before anyone is overcome with optimism, the ancient Chinese philosopher in us should always question what said glass actually contains. This is certainly the preferred mindset when it comes to measuring the financial health of the European telecom sector after the first quarter, where the glass is half full of relief that the worst might be over, rather than confidence that long-term growth has returned. Europe's big five – Deutsche Telekom, Orange, Telecom Italia, Telefonica and Vodafone – reported modest revenue growth in some cases and slowing revenue declines in others…

A glass-half-full attitude is all well and good, but before anyone is overcome with optimism, the ancient Chinese philosopher in us should always question what said glass actually contains. This is certainly the preferred mindset when it comes to measuring the financial health of the European telecom sector after the first quarter, where the glass is half full of relief that the worst might be over, rather than confidence that long-term growth has returned. Europe's big five – Deutsche Telekom, Orange, Telecom Italia, Telefonica and Vodafone – reported modest revenue growth in some cases and slowing revenue declines in others…

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