Vodafone Raises Profit Forecast After Cutting Costs and 3,000 Jobs

Operating profit is expected to rise to 13.2-13.4 billion euros in the financial year ending next March, up from the previous forecast of 13.0-13.3 billion.

During the first half of the financial year, CEO Margherita Della Valle pushed through cuts that reduced the workforce by 3,000 positions.

Vodafone shares have risen 18 percent since the beginning of the year, ahead of the report.