Veon lifts revenue forecast as digital services buoy growth
VEON•Veon raised its revenue growth forecast to 16% to 18% in U.S. dollar terms from 15% to 18%. Third-quarter revenue rose 17.2% to $1.31 billion, while digital revenue jumped 45.9% to $355 million.
1. Forecast raised
Veon lifted its revenue growth forecast to 16% to 18% in U.S. dollar terms, from 15% to 18% previously, as its digital businesses grew faster than its core mobile operations.
2. Third-quarter results
Revenue rose 17.2% year on year to $1.31 billion. Earnings before interest, taxes, depreciation and amortization climbed 10.1% to $577 million. Digital revenue jumped 45.9% to $355 million, or 27.2% of group revenue.
