VEON Raises Annual Earnings Outlook as Digital Revenue Surges 53 Percent
Amsterdam, Friday, 31 July 2026.
VEON raised its full-year guidance on July 31, 2026, driven by a 53.6% jump in quarterly digital revenue, which now accounts for over a quarter of total sales.
Digital Revenue Drives Q2 2026 Performance
VEON Ltd. released its second-quarter 2026 financial results on July 31, 2026, reporting a significant surge in digital revenue [1]. Digital revenue climbed 53.6% year-over-year to USD 342 million, accounting for 26.9% of Group revenues [1]. This growth highlights accelerating digital transition and monetization in emerging markets [1]. Total revenue for the quarter reached USD 1,271 million, representing a 17.0% year-over-year increase [1]. The company serves nearly 151 million connectivity users and nearly 228 million digital users across five countries [1].
Revised Outlook and Capital Allocation
Driven by strong demand, VEON raised its full-year 2026 outlook for both revenue and EBITDA [1]. Revenue growth is now projected at 15%–18%, updated from the previous range of 11%–14% [1]. EBITDA growth is expected to reach 9%–12%, compared to the prior guidance of 7%–10% [1]. Regarding capital return, VEON intends to purchase and cancel a minimum of USD 100 million of shares and ADSs annually [1]. As of the report, USD 82.5 million of the USD 100 million repurchase program has been completed, representing 82.5 percent of the annual target [1]. Profit for 2Q26 was USD 140 million, a decrease of 77.0% year-over-year impacted by fair value losses on KGL warrants [1].
Strategic Expansion and Investor Engagement
In a move to deepen connections with U.S. investors, VEON’s subsidiary Kyivstar Group Ltd. opened a new office at Rockefeller Center in New York City on July 29, 2026 [2]. This office facilitates engagement with the U.S. investment community and international partners [2]. VEON teams were present in New York during the week of July 30, 2026, for meetings with investors and industry leaders [3]. The company is listed on the NASDAQ exchange and headquartered in Dubai [3]. Kyivstar Group Ltd. celebrated one year since its Nasdaq listing, having achieved the milestone of being the first Ukrainian company listed on a U.S. stock exchange in August 2025 [2][4].