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

Posted by on May 13th, 2026

VEON (NASDAQ:VEON – Get Free Report) issued its earnings results on Wednesday. The Wireless communications provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.40, Zacks reports. The business 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 period last year, the business posted $1.36 EPS.

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 Stock Performance

VEON stock traded up $6.89 during trading on Wednesday, reaching $56.89. The company had a trading volume of 302,424 shares, compared to its average volume of 106,028. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.90 and a current ratio of 0.91. VEON has a twelve month low of $34.55 and a twelve month high of $64.00. The firm has a 50-day simple moving average of $50.58 and a 200-day simple moving average of $51.56. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 4.80 and a beta of 1.61.

Institutional Trading of VEON

A number of hedge funds and other institutional investors have recently made changes to their positions in VEON. NewEdge Advisors LLC acquired a new stake in VEON during the first quarter worth approximately $400,000. Jones Financial Companies Lllp grew its holdings in shares of VEON by 84,690.0% during the 1st quarter. Jones Financial Companies Lllp now owns 16,958 shares of the Wireless communications provider’s stock worth $740,000 after purchasing an additional 16,938 shares during the period. Jane Street Group LLC grew its holdings in shares of VEON by 177.9% during the 1st quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider’s stock worth $714,000 after purchasing an additional 10,483 shares during the period. JPMorgan Chase & Co. boosted its holdings in VEON by 267.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider’s stock worth $2,572,000 after acquiring an additional 40,614 shares during the period. Finally, Bank of America Corp DE boosted its holdings in VEON by 1.0% in the 2nd quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider’s stock worth $2,468,000 after acquiring an additional 538 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

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

Analysts Set New Price Targets

VEON has been the subject of a number of analyst reports. Zacks Research upgraded shares of VEON from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 19th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research report on Sunday. Benchmark restated a “buy” rating on shares of VEON in a report on Friday, March 13th. Finally, Rothschild & Co Redburn set a $74.00 price objective on shares of VEON and gave the company a “buy” rating in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $67.00.

Get Our Latest Report on VEON

VEON Company Profile

(Get Free Report)

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.

Read More

Earnings History for VEON (NASDAQ:VEON)

Receive News & Ratings for VEON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEON and related companies with MarketBeat.com's FREE daily email newsletter.