Why Vodafone (VOD) Stock Is Lower This Morning

NEW YORK (TheStreet) -- Shares of Vodafone Group (VOD) are down 4.38% to $34.72 in pre-market trade after it said its 2015 earnings would be adversely affected by investment in its network to increase speed and coverage.

The mobile communications firm reported results for the year ended March 31. Group revenue was down 1.9% to 43.6 billion pounds, while full year organic service revenue declined 4.3%.

Fourth quarter organic service revenue fell 3.8%, or 4.0% including Italy at 100%.  EBITDA declined 7.4% at 12.8 billion pounds; organic EBITDA margin fell 1.3%.

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