VEON Ltd (VEON) Income Statement
VEON 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVEON revenue and net income
Where VEON's revenue goes
2025Each bar shows an amount and its share of revenue. VEON kept 12.1% of revenue as net income.
VEON profit margins
VEON growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.8% | — | — | — |
| Gross profit | −10.5% | — | — | — |
| Operating income | −6.0% | — | — | — |
| Net income | +30.4% | — | — | — |
| EPS (diluted) | +110.6% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VEON quarterly EPS vs estimates
VEON beat the analyst EPS estimate in 5 of the last 7 quarters. Next report: November 6, 2026 (estimate $1.95).
VEON income statement
| 2025 | 2024 | |
|---|---|---|
| Revenue | $4.47B | $4.00B |
| Cost of revenue | $1.35B | $515.0M |
| Gross profit | $3.12B | $3.49B |
| Sales, general & admin | $1.80B | $1.71B |
| Total operating expenses | $2.08B | $2.38B |
| Operating income | $1.04B | $1.11B |
| Interest income | $52.0M | $49.0M |
| Interest expense | $544.2M | $495.0M |
| Income before taxes | $798.5M | $704.0M |
| Income taxes | $197.3M | $217.0M |
| Net income | $541.1M | $415.0M |
| EBITDA | $2.16B | $1.69B |
| EPS (diluted) | $8.78 | $4.17 |
| Gross margin | 69.8% | 87.1% |
| Operating margin | 23.3% | 27.7% |
| Net margin | 12.1% | 10.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.27B | $1.21B | $1.18B | $1.11B | $1.09B | $1.03B | $998.0M |
| Cost of revenue | $171.0M | $361.6M | $367.7M | $133.0M | $104.0M | $129.0M | — |
| Gross profit | $1.10B | $844.7M | $815.3M | $982.0M | $983.0M | $897.0M | — |
| Sales, general & admin | $550.0M | $533.0M | $244.0M | $633.0M | $462.0M | $458.0M | — |
| Total operating expenses | $773.0M | $535.4M | $496.1M | $923.0M | $163.0M | $658.0M | — |
| Operating income | $327.0M | $309.4M | $319.3M | $59.0M | $820.0M | $239.0M | — |
| Interest income | $30.0M | $18.0M | — | — | $10.0M | $10.0M | — |
| Interest expense | $167.0M | $150.7M | $144.5M | $131.5M | $129.3M | $123.0M | — |
| Income before taxes | $200.0M | $183.8M | $56.6M | −$83.0M | $682.0M | $130.0M | — |
| Income taxes | $60.0M | $60.3M | $64.7M | $44.0M | $74.0M | $12.0M | — |
| Net income | $122.0M | $99.4M | −$31.3M | −$131.0M | $595.0M | $99.0M | — |
| EBITDA | $592.0M | $544.4M | $407.2M | $122.0M | $520.0M | $439.0M | — |
| EPS (diluted) | $1.69 | $1.41 | −$0.41 | −$0.47 | $8.30 | $1.36 | $1.01 |
| Gross margin | 86.5% | 70.0% | 68.9% | 88.1% | 90.4% | 87.4% | — |
| Operating margin | 25.7% | 25.6% | 27.0% | 5.3% | 75.4% | 23.3% | — |
| Net margin | 9.6% | 8.2% | −2.6% | −11.7% | 54.7% | 9.6% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VEON's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VEON financial results
In fiscal year 2025 (ended December 31, 2025), VEON reported revenue of $4.5 billion, up 11.8% from the year before. It had net income of $541.1 million (up 30.4%), a net profit margin of 12.1%. Diluted earnings per share came to $8.78.
See the VEON stock overview for the latest quote and news, or the VEON chart for price history and technical indicators.
VEON income statement FAQ
What is VEON's annual revenue?
VEON reported total revenue of $4.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 11.8% from $4.0 billion the previous year.
Is VEON profitable?
Yes. VEON reported net income of $541.1 million in fiscal 2025, a net profit margin of 12.1%; its operating margin was 23.3%.
What is VEON's gross margin?
VEON's gross margin was 69.8% in fiscal 2025: for every $100 of revenue, VEON kept $70 after the direct cost of its products and services.
What are VEON's earnings per share?
VEON earned $8.78 per diluted share in fiscal 2025, compared with $4.17 a year earlier.
When will VEON report its next earnings?
VEON is expected to report results for the quarter ending September 30, 2026 on November 6, 2026 before the market opens.
When does VEON's fiscal year end?
VEON's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.