VEON Posts 6.6% Revenue Growth In Q1 Driven By Digital Operator Strategy: Details
Portfolio Pulse from Shivani Kumaresan
VEON Ltd (NASDAQ:VEON) reported a 6.6% year-on-year revenue growth in Q1 FY24, driven by its Digital Operator strategy. The company saw significant increases in digital service users and 4G subscribers. EBITDA grew slightly, but the margin decreased. VEON maintained its full-year guidance for revenue and EBITDA growth.
May 16, 2024 | 12:26 pm
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VEON Ltd reported a 6.6% revenue growth in Q1 FY24, driven by its Digital Operator strategy. The company saw a significant increase in digital service users and 4G subscribers. EBITDA grew slightly, but the margin decreased. VEON maintained its full-year guidance for revenue and EBITDA growth.
The revenue growth and increase in digital service users and 4G subscribers are positive indicators for VEON. Although the EBITDA margin decreased, the slight growth in EBITDA and maintained full-year guidance suggest a positive outlook. This is likely to have a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100