VEON (NASDAQ:VEON) Announces Earnings Results, Beats Expectations By $0.95 EPS

VEON (NASDAQ:VEON) released its quarterly earnings data on Friday. The Wireless communications provider reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.95, Zacks reports. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. VEON had a net margin of 1.24% and a return on equity of 14.93%.

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

• Revenue and EBITDA grew 17.2% and 10.1%, respectively, in Q3. VEON raised the lower end of its full-year outlook, now expecting revenue growth of 16%–18% and EBITDA growth of 10%–12%.
• Digital services continued to scale profitably: revenue rose 46% to $355 million, with a 36% EBITDA margin. The company said digital services now account for 27% of group revenue and reach more than 221 million customers.
• Operating cash flow increased 47% year to date to $1.3 billion, while leverage stood at a relatively low 1.05x. VEON has completed $200 million in share buybacks year to date and doubled its annual buyback commitment to at least $200 million.
• Group EBITDA margin declined to 44.1% from 47% a year earlier, with Kazakhstan affected by a VAT increase and the absence of prior-year tax rebates. Kazakhstan mobile ARPU fell 10% year over year as tariff increases took longer than expected.
• VEON is expanding its digital ecosystem through the closing of its OLX acquisition in Kazakhstan, an agreement involving Jungo TV and All Women’s Sports Network, and a digital banking license in Bangladesh. Management described these as growth opportunities but did not provide detailed financial contribution targets for the new investments.

VEON Stock Performance

VEON stock traded up $2.23 during midday trading on Friday, hitting $77.57. 213,469 shares of the company’s stock were exchanged, compared to its average volume of 116,127. VEON has a 12-month low of $42.60 and a 12-month high of $89.00. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 91.26 and a beta of 1.65. The firm’s 50 day simple moving average is $74.34 and its 200 day simple moving average is $58.27.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Northland Securities set a $85.00 target price on VEON and gave the company an “outperform” rating in a report on Tuesday, September 29th. Weiss Ratings upgraded VEON from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Cantor Fitzgerald began coverage on VEON in a research report on Friday, October 2nd. They set an “overweight” rating and a $112.00 price target on the stock. Zacks Research upgraded VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut VEON from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 6th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.33.

Key VEON News

Here are the key news stories impacting VEON this week:

• Positive Sentiment: Third-quarter revenue rose 17.2% year over year to $1.307 billion, while digital services reached 27.2% of revenue. VEON raised the midpoint of its 2026 revenue and EBITDA outlook; revenue guidance is $5.1 billion–$5.2 billion, around analyst expectations. VEON Q3 results and outlook
• Positive Sentiment: VEON completed its $81 million acquisition of OLX Kazakhstan, adding a large classifieds platform to its digital-commerce operations. The deal was also cited alongside the company’s swing to a third-quarter profit. OLX Kazakhstan acquisition
• Positive Sentiment: The company plans to acquire a 33.75% interest in Jungo TV, including access to All Women’s Sports Network content. VEON aims to use its platforms and Jungo’s distribution reach to grow digital entertainment. Jungo TV and AWSN investment
• Neutral Sentiment: VEON reported EPS of $2.67, well above the $1.72 consensus, but coverage noted the beat was substantially driven by one-time gains, making it a less clear measure of recurring performance. Revenue was in line with estimates. Q3 earnings analysis
• Negative Sentiment: VEON identified fuel shortages as its biggest threat, a potential operational risk that could weigh on its markets even as it pursues growth in satellite data and digital services. Fuel shortages and growth risks

About VEON

VEON Ltd. is a global digital communications and services company that provides mobile connectivity, fixed broadband, and digital products to consumers and businesses. The company operates through a portfolio of local telecommunications brands, offering voice and messaging services, mobile data, broadband access, and related enterprise solutions.

VEON’s principal operating brands include Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline-branded businesses in Kazakhstan, Uzbekistan, and Kyrgyzstan.