- VEON Ltd VEON reported second-quarter FY22 revenue growth of 5.6% year-on-year to $2.01 billion.
- Total service revenue grew 7.1% Y/Y to $1.89 billion. Mobile data revenue rose 11.6% Y/Y.
- The 4G subscribers increased 19.2% Y/Y to 101.9 million.
- The 4G subscriber base penetration expanded 690 bps to 50%.
- The EBITDA margin expanded 300 bps to 45.4%.
- The net income improved 43.5% Y/Y to $183 million.
- VEON held $2.3 billion in cash and equivalents
- Commenting on results, Kaan Terzioğlu said, "This quarter, our 4G users reached 50% of our customer base, moving closer to our target of 70% 4G penetration. More subscribers, higher 4G penetration, and more digital services, together with inflationary pricing and good cost management, are driving solid revenue and EBITDA performance across our countries."
- Price Action: VEON shares traded higher by 6.99% at $0.50 in the premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in