Equity Profile

VEON

VEON Ltd.

Communication ServicesWireless Telecommunication Services$3.9B

Aug6Thu

Pre-Earnings Brief

UpcomingQ4-2025Pre-Market9:00 AM EDT

Company Snapshot

VEON Ltd. is a telecommunications company that provides wireless services, primarily in emerging markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and generating income.

$1.30

Revenue

Total revenue reflects the company's ability to attract and retain customers, which is crucial for growth in the competitive telecom sector.

$1.2B

Wall Street expectations, options signals, track record, and call prep available with Pro.

VEON Q4-2025 Earnings Preview

Context

Company Snapshot

VEON Ltd. is a telecommunications company that provides wireless services, primarily in emerging markets. With a market cap of $4 billion, it plays a significant role in connecting consumers and businesses through mobile and internet services, which are essential in today's digital economy.

Earnings Scorecard·Last 5Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

-55.54%

Avg Stock Reaction

+4.01%

Last Quarter Recap

In Q3 2025, VEON reported an unexpected loss with an EPS of -$1.84, significantly missing estimates. Despite this, the stock rose 14.77% the following day, indicating market optimism or speculative trading.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about VEON's upcoming earnings, expecting a return to profitability with an EPS of $1.30. However, the previous quarter's significant loss raises concerns about the company's stability.

Bull Case

If VEON can meet or exceed the EPS estimate, it may indicate a turnaround in performance and boost investor confidence, potentially leading to a strong stock rally.

Bear Case

Conversely, if the company fails to deliver on earnings again, it could reinforce negative sentiment and lead to further declines in stock price.

Key Metrics to Watch

EPS

$1.30

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and generating income.

Revenue

$1.2B

Total revenue reflects the company's ability to attract and retain customers, which is crucial for growth in the competitive telecom sector.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will VEON achieve at least $1.30 in EPS this quarter?

This number is crucial as it will indicate whether the company is recovering from its recent losses and can regain investor trust.

How has revenue growth compared to the expected $1.2 billion?

Revenue performance will shed light on customer retention and market demand, which are vital for VEON's long-term success.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may be underestimating the potential for VEON to rebound strongly this quarter, given its recent operational improvements and market conditions.

Supporting Evidence

The stock's recent price movement suggests that investors are optimistic despite the last quarter's loss.

Options are pricing in a larger move than historical averages, indicating heightened expectations for volatility.

Key Risk

If VEON's revenue exceeds $1.2 billion, it could significantly alter the market's perception of its recovery potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing VEON's ability to recover from past losses against its potential for growth in a competitive telecom landscape.

Bull Confirmed If

Achieving an EPS of $1.30 or higher would confirm a positive turnaround in VEON's financial health.

Bear Confirmed If

An EPS below the consensus of $1.30 would suggest ongoing struggles and could lead to a sell-off.

Pre-Earnings Positioning

Options Market

Implied Move

±7.18%

Historical Avg

±4.2%

Pricing rich

The options market is pricing in a significant move around the earnings report, suggesting that traders expect volatility based on the upcoming results.

Options are pricing ±7.2% while VEON has averaged ±4.2% over the last 5 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

51.0%

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Communication Services

n=30

Fade rate: 16 of 30 (53%)

This setup has occurred 30 times across Communication Services in the last 2 years. 16 of 30 faded and 14 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.4%, with a raw directional average of -0.6% (modestly negative historical bias).

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

26.52%

of float

Insider

0.06%

of float

Holders

138

institutions

Top Holders· as of Dec 2025

Lingotto Investment Management LLP
6,060,852 sh · $321.2M
8.19%
-49.9%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If VEON beats expectations, history suggests the stock could rise significantly, confirming a positive trend in profitability.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further clarity on future guidance.

Miss

A miss on earnings could lead to a decline in stock price, with historical patterns suggesting an average drop of around 7.86%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer growth and retention rates.
2Details on cost management strategies and their impact on profitability.
3Insights into market conditions in key regions where VEON operates.
4Management's outlook on future earnings and revenue growth.
5Any commentary on competitive pressures and how VEON plans to address them.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

VEON Ltd. is a telecommunications company that provides wireless services, primarily in emerging markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and generating income.

$1.30

Revenue

Total revenue reflects the company's ability to attract and retain customers, which is crucial for growth in the competitive telecom sector.

$1.2B

Wall Street expectations, options signals, track record, and call prep available with Pro.

VEON Q4-2025 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 5Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

-55.54%

Avg Stock Reaction

+4.01%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If VEON can meet or exceed the EPS estimate, it may indicate a turnaround in performance and boost investor confidence, potentially leading to a strong stock rally.

Bear Case

Conversely, if the company fails to deliver on earnings again, it could reinforce negative sentiment and lead to further declines in stock price.

Key Metrics to Watch

EPS

$1.30

Earnings per share is a key indicator of profitability and will show how well the company is managing its costs and generating income.

Revenue

$1.2B

Total revenue reflects the company's ability to attract and retain customers, which is crucial for growth in the competitive telecom sector.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will VEON achieve at least $1.30 in EPS this quarter?

This number is crucial as it will indicate whether the company is recovering from its recent losses and can regain investor trust.

How has revenue growth compared to the expected $1.2 billion?

Revenue performance will shed light on customer retention and market demand, which are vital for VEON's long-term success.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may be underestimating the potential for VEON to rebound strongly this quarter, given its recent operational improvements and market conditions.

Supporting Evidence

The stock's recent price movement suggests that investors are optimistic despite the last quarter's loss.

Options are pricing in a larger move than historical averages, indicating heightened expectations for volatility.

Key Risk

If VEON's revenue exceeds $1.2 billion, it could significantly alter the market's perception of its recovery potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing VEON's ability to recover from past losses against its potential for growth in a competitive telecom landscape.

Bull Confirmed If

Achieving an EPS of $1.30 or higher would confirm a positive turnaround in VEON's financial health.

Bear Confirmed If

An EPS below the consensus of $1.30 would suggest ongoing struggles and could lead to a sell-off.

Pre-Earnings Positioning

Options Market

Implied Move

±7.18%

Historical Avg

±4.2%

Pricing rich

The options market is pricing in a significant move around the earnings report, suggesting that traders expect volatility based on the upcoming results.

Options are pricing ±7.2% while VEON has averaged ±4.2% over the last 5 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

51.0%

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich in Communication Services

n=30

Fade rate: 16 of 30 (53%)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Mixed flows

Institutional

26.52%

of float

Insider

0.06%

of float

Holders

138

institutions

Top Holders· as of Dec 2025

Lingotto Investment Management LLP
6,060,852 sh · $321.2M
8.19%
-49.9%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If VEON beats expectations, history suggests the stock could rise significantly, confirming a positive trend in profitability.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further clarity on future guidance.

Miss

A miss on earnings could lead to a decline in stock price, with historical patterns suggesting an average drop of around 7.86%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer growth and retention rates.
2Details on cost management strategies and their impact on profitability.
3Insights into market conditions in key regions where VEON operates.
4Management's outlook on future earnings and revenue growth.
5Any commentary on competitive pressures and how VEON plans to address them.