Operator results - 25/1/06

Vodafone reported better than expected customer and revenue growth, and reiterated its fiscal 2006 guidance for proportionate mobile revenue growth of 6%-9%. Its EBITDA should be almost flat. Vodafone also confirmed its 45% stake in Verizon is not (now) for sale. Vodafone share has continued to fell (-25% from November 05).

Bharti Tele-ventures (India) reported 4Q05 net profit was up 25% to $121m, mobile revenues were up 42% to $672m.

Cingular returned to profit in 4Q05 with $204m in net income, and non-proforma revenues at $8.85bn (up 24%). For the year, Cingular reported a profit of $333m (+66%), and non-proforma revenues of $34.4bn , up 75%. The impact of the merger with ATT Wireless is not yet provided. ARPU was about $48.9 (-1%), and churn dropped to 2.1%.