VEON (NASDAQ:VEON) Posts Quarterly Earnings Results, Beats Expectations By $0.40 EPS

Key Points

• VEON reported a better-than-expected quarter, with EPS of $1.39 versus $0.99 expected and revenue of $1.20 billion versus $1.17 billion expected.
• The company highlighted strong operating momentum, including 17% revenue growth, 17.7% EBITDA growth, and a 57.7% surge in digital revenue, which now makes up more than 25% of total revenue.
• VEON raised its 2026 revenue growth outlook to 11%–14% and said leverage improved further, while also reiterating plans for at least $100 million in annual share repurchases.

VEON (NASDAQ:VEON - Get Free Report) announced its quarterly earnings data on Wednesday. The Wireless communications provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.40, Zacks reports. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. VEON had a net margin of 12.12% and a return on equity of 47.86%. During the same quarter last year, the firm earned $1.36 earnings per share.

Here are the key takeaways from VEON's conference call:

• VEON reported a strong Q1 with revenue up 17% year over year to $1.2 billion and EBITDA up 17.7% to $517 million, while margins expanded to 43%.
• Equity free cash flow jumped 73.4% to $246 million, and the company said leverage improved further to 1.07x net debt/EBITDA excluding leases.
• Digital remains the main growth engine, with digital revenue up 57.7% to $303 million and now accounting for more than 25% of group revenue. Management said digital profitability is improving as the segment scales.
• VEON raised its 2026 revenue growth outlook to 11%–14%, while leaving EBITDA growth guidance at 7%–10%. The company also reiterated at least $100 million in annual share repurchases, subject to conditions.
• Pakistan financial services continued to expand, with JazzCash reaching 29 million users and transaction value near $60 billion over the last 12 months, but management signaled it will not rush any value-crystallization event such as an IPO or strategic deal.

VEON Trading Up 13.8%

Shares of VEON traded up $6.89 during mid-day trading on Wednesday, hitting $56.89. The company had a trading volume of 302,424 shares, compared to its average volume of 102,099. VEON has a 1-year low of $34.55 and a 1-year high of $64.00. The business's 50-day simple moving average is $50.58 and its 200-day simple moving average is $51.56. The stock has a market cap of $4.21 billion, a PE ratio of 7.66 and a beta of 1.61. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 2.47.

Key Stories Impacting VEON

Here are the key news stories impacting VEON this week:

• Positive Sentiment: VEON beat Q1 expectations, reporting EPS of $1.39 versus $0.99 expected and revenue of $1.20 billion versus $1.17 billion expected, which signals better-than-anticipated operating performance. VEON earnings report and transcript
• Positive Sentiment: The company lifted its 2026 revenue growth forecast to 11%–14% from 9%–12%, helped by stronger underlying business trends and a weaker U.S. dollar boosting reported results. Reuters article on VEON forecasts
• Positive Sentiment: Digital revenue surged 57.7% in the quarter and now accounts for 25.2% of total revenue, showing meaningful progress in VEON’s higher-growth digital businesses. VEON press release
• Neutral Sentiment: VEON also released its Q1 earnings call materials and transcript, which may give investors more detail on management’s outlook and capital allocation plans. VEON Q1 2026 earnings transcript

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VEON shares. Zacks Research upgraded shares of VEON from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 19th. Benchmark reaffirmed a "buy" rating on shares of VEON in a research note on Friday, March 13th. Rothschild & Co Redburn set a $74.00 target price on VEON and gave the company a "buy" rating in a report on Thursday, April 16th. Finally, Wall Street Zen raised shares of VEON from a "hold" rating to a "buy" rating in a research report on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $67.00.

Hedge Funds Weigh In On VEON

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of VEON by 66.5% during the 4th quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider's stock valued at $51,382,000 after buying an additional 390,294 shares during the period. Mackenzie Financial Corp purchased a new position in shares of VEON in the 3rd quarter worth $15,005,000. Panview Capital Ltd boosted its holdings in VEON by 24.7% in the fourth quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider's stock valued at $27,070,000 after acquiring an additional 101,906 shares during the last quarter. Millennium Management LLC boosted its holdings in VEON by 275.3% in the third quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider's stock valued at $7,265,000 after acquiring an additional 97,913 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in VEON during the fourth quarter valued at about $3,575,000. Institutional investors and hedge funds own 21.30% of the company's stock.

VEON Company Profile

VEON Ltd NASDAQ: VEON is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.

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