VEON Ltd. has reported a robust performance in its third-quarter earnings, showcasing a 17.2% increase in revenue compared to the same period last year. This growth is largely attributed to the company's expanding digital services, which now account for a significant portion of its total revenue. The announcement comes as VEON raises its revenue and EBITDA outlook for the year, indicating strong confidence in its business model and market positioning.

On November 6, 2026, VEON issued a press release detailing its financial results for the third quarter of 2026. The company reported total revenue of USD 1,307 million and EBITDA of USD 577 million, reflecting increases of 17.2% and 10.1% year-over-year, respectively. Digital revenue surged by 45.9%, reaching USD 355 million, which now represents 27.2% of the company's total revenue.

Background

VEON Ltd. is a telecommunications company operating under the SIC code 4812, which covers radiotelephone communications. It is listed on the Nasdaq under the ticker symbol VEON. The company is known for providing digital services and connectivity solutions across multiple countries, serving a vast customer base. Recent filings indicate that VEON has been actively expanding its digital offerings and enhancing its operational capabilities.

What the Filing Says

The filing highlights that VEON's total revenue increased by 17.2% year-over-year, with a notable rise in digital services contributing significantly to this growth. The company stated, "VEON delivered another quarter of double-digit growth, and we are raising the midpoint of our full-year outlook." Additionally, the company has initiated a buyback program, repurchasing 1.55 million ADSs for USD 112.5 million, with plans to cancel all repurchased shares.

Impact

This strong performance may impact various stakeholders, including investors, customers, and competitors in the telecommunications industry. The significant growth in digital services positions VEON as a formidable player in the market, potentially influencing competitors to enhance their digital offerings. The share buyback program also signals to investors that VEON is committed to returning value, which may boost investor confidence.

What's Next

VEON is set to host a results conference call with senior management to discuss these results further. The filing does not specify any additional actions or upcoming filings beyond this announcement.