Veon Up Over 5% In Pre-market On Q3 Profit, Increased Revenue Outlook

(RTTNews) - Shares of Veon Ltd. (VEON) were trading up on Monday after the company reported a profit for the third-quarter and raised its annual revenue outlook.

VEON was trading up by 5.69 percent at $21 per share in the pre-market trade on the Nasdaq.

For the third-quarter, the telecom company posted a net income of $468 million or $0.26 per share, compared with a loss of $465 million or $0.29 per share, registered for the same period last year.

Revenue improved to $945 million from previous year's $891 million.

Looking ahead, for the full year, the company has revised up its outlook.

VEON now projects a revenue growth of 18 percent to 20 percent against its previous expectation of 16 percent to 19 percent.

For the full-year 2022, the company had registered a revenue of $3.755 billion.