VEON Q4 Sales $953M Up From $940M YoY, Net Loss $3.5B Down From Net Profit $386M YoY
Portfolio Pulse from Benzinga Newsdesk
VEON reported a Q4 sales increase to $953M from $940M YoY, but faced a net loss of $3.5B, mainly due to a $3.4B loss from the sale of its Russian operations.
March 21, 2024 | 6:21 am
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VEON's Q4 earnings report shows a slight increase in sales but a significant net loss due to the sale of its Russian operations.
The significant net loss of $3.5 billion, primarily due to the sale of VEON's Russian operations, is likely to negatively impact investor sentiment and the stock price in the short term. The slight increase in sales may not be enough to offset the concerns raised by the substantial loss.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100