Vodafone Beats Profit Estimates on German Turnaround

Vodafone Group Plc is starting to reverse a steady decline in Germany, its largest market, after heavy competition and a regulatory change cost the company millions of customers.

Organic service revenue in Germany fell 3.2% to €2.7 billion ($3.2 billion) in the first quarter, the telecommunications operator said in a statement on Thursday. Analysts expected a drop of 4.6%, according to estimates compiled by Bloomberg.