Vodafone (VOD) and BT Group (BT.A) shares have remained in a tight range in the past few weeks as investors focus on their upcoming earnings and their internal actions. BT Group stock was trading at 140p on Wednesday, inside the range where it has been since June 25th. It has risen by over 36% from its lowest point in April.Vodafone share price, on the other hand, was trading at 70p, down by 6% from its highest point this year and up by 13% from the YTD low. Slow growth but turnaround workingTelecom companies like Vodafone and BT Group have come under pressure in the past few years as growth in their industry has slowed. Data compiled by SeekingAlpha shows that Vodafone’s annual revenue has moved from over $49.5 billion in 2019 to $39.6 billion in the last financial year. In the same period, BT Group’s revenues dropped from $28 billion to $26 billion. These companies have also had to spend billions of dollars upgrading their networks to 5G and the process will continue as the world starts moving to 6G. China has become the first country to start implementing 6G upgrades and other countries will catch up in the next few years. Therefore, the two companies have embarked on different strategies to attract investors. BT Group has focused on cost cuts, especially in the labour side. The company announced that it would cut up to 55,000 jobs by 2030, a move it hopes will save it billions. Vodafone has taken a more comprehensive approach. It has scaled down its global ambitions in a bid to become a leaner entity. A few years ago, it spun out its towers business into a publicly traded company known as Vantage Towers. Earlier this week, the company said that it sold a further 10% of its stake in the company, taking in 1.3 billion euros. It will use these funds to further lower its mountain of debt. In the past two years, the company has sold a stake worth 2.2 billion euros. Vodafone has also taken more actions to simplify its business. It has sold its Spanish business to Zegona in a 4.1 billion euro deal. It also sold its Italian business to Swisscom for 8 billion euros. Vodafone is also working to solidify its market share in its key countries. For example, it is in the process of merging its UK business with Three, a move that will boost its market share as it competes with BT’s EE. The next important catalyst for the Vodafone share price will be its first quarter earnings scheduled for Thursday. These numbers will provide more color about its debt and its performance in Germany, its biggest market. BT Group will also publish its trading statement on Thursday 25th. The consensus is that its group revenue dropped slightly in the first quarter to £5.13 billion while its EBITDA moved to £2 billion. BT’s biggest challenge is its business segment whose revenue is expected to come in at £1.97 billion. For the year, analysts expect that BT’s revenue will be £20.9 billion while its EBITDA will be £8.2 billion. Vodafone share price analysis 
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