Equity Profile

VEON

VEON Ltd.

Communication ServicesWireless Telecommunication Services$3.6B

Aug6Thu

Pre-Earnings Brief

UpcomingQ4-2025Pre-Market9:00 AM EDT

Company Snapshot

VEON Ltd. is a telecommunications company that provides wireless services and digital solutions across various markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of the company's profitability and financial health.

$1.30

Revenue

Total revenue reflects the company's ability to generate sales and is critical for assessing growth.

$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 and digital solutions across various markets. With a market cap of $4 billion, it plays a significant role in the Communication Services sector, focusing on enhancing connectivity and digital experiences for consumers and businesses alike.

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 by 14.77% the following day, indicating market optimism or a potential overreaction.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about VEON's upcoming earnings, expecting a return to profitability with a consensus EPS of $1.30. However, the company’s recent performance raises concerns about its ability to meet these expectations.

Bull Case

If VEON successfully reports an EPS of $1.30 or better, it could signal a strong recovery and renewed investor confidence, potentially driving the stock higher.

Bear Case

Conversely, if the company misses expectations again, it could lead to further declines in stock price, as investors may lose faith in management's ability to turn the business around.

Key Metrics to Watch

EPS

$1.30

Earnings per share is a key indicator of the company's profitability and financial health.

Revenue

$1.2B

Total revenue reflects the company's ability to generate sales and is critical for assessing growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will VEON achieve an EPS of $1.30 or better this quarter?

This metric is crucial for restoring investor confidence after the significant loss reported last quarter.

What are the key drivers behind the expected revenue of $1.2 billion?

Understanding the revenue drivers will provide insights into the company's growth potential and operational effectiveness.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate VEON's potential for recovery, as recent market reactions suggest a resilience that could lead to a positive surprise.

Supporting Evidence

The stock's significant rise following a large EPS miss indicates that investors may be overly optimistic about a rebound.

Options pricing suggests a larger expected move than historical averages, indicating potential for volatility that could favor a surprise.

Key Risk

If VEON's revenue significantly exceeds $1.2 billion, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is keenly focused on VEON's ability to recover from recent losses and deliver on earnings expectations.

Bull Confirmed If

Reporting an EPS of $1.30 or better would confirm a positive turnaround for VEON.

Bear Confirmed If

An EPS below $1.30 would reinforce concerns about the company's profitability and growth prospects.

Pre-Earnings Positioning

Options Market

Implied Move

±7.18%

Historical Avg

±4.2%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

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, potentially around the average 1-day move of +7.86%.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

Should VEON miss expectations again, history indicates a potential decline, with an average 1-day move of +7.86% when they miss.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on the drivers behind the expected revenue growth.
2Any updates on cost management strategies that could impact profitability.
3Insights into subscriber growth or retention rates in key markets.
4Management's outlook on competitive pressures in the telecommunications sector.
5Comments on any new services or technologies being introduced.

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Company Snapshot

VEON Ltd. is a telecommunications company that provides wireless services and digital solutions across various markets....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of the company's profitability and financial health.

$1.30

Revenue

Total revenue reflects the company's ability to generate sales and is critical for assessing growth.

$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 successfully reports an EPS of $1.30 or better, it could signal a strong recovery and renewed investor confidence, potentially driving the stock higher.

Bear Case

Conversely, if the company misses expectations again, it could lead to further declines in stock price, as investors may lose faith in management's ability to turn the business around.

Key Metrics to Watch

EPS

$1.30

Earnings per share is a key indicator of the company's profitability and financial health.

Revenue

$1.2B

Total revenue reflects the company's ability to generate sales and is critical for assessing growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will VEON achieve an EPS of $1.30 or better this quarter?

This metric is crucial for restoring investor confidence after the significant loss reported last quarter.

What are the key drivers behind the expected revenue of $1.2 billion?

Understanding the revenue drivers will provide insights into the company's growth potential and operational effectiveness.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate VEON's potential for recovery, as recent market reactions suggest a resilience that could lead to a positive surprise.

Supporting Evidence

The stock's significant rise following a large EPS miss indicates that investors may be overly optimistic about a rebound.

Options pricing suggests a larger expected move than historical averages, indicating potential for volatility that could favor a surprise.

Key Risk

If VEON's revenue significantly exceeds $1.2 billion, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is keenly focused on VEON's ability to recover from recent losses and deliver on earnings expectations.

Bull Confirmed If

Reporting an EPS of $1.30 or better would confirm a positive turnaround for VEON.

Bear Confirmed If

An EPS below $1.30 would reinforce concerns about the company's profitability and growth prospects.

Pre-Earnings Positioning

Options Market

Implied Move

±7.18%

Historical Avg

±4.2%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

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, potentially around the average 1-day move of +7.86%.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further guidance.

Miss

Should VEON miss expectations again, history indicates a potential decline, with an average 1-day move of +7.86% when they miss.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on the drivers behind the expected revenue growth.
2Any updates on cost management strategies that could impact profitability.
3Insights into subscriber growth or retention rates in key markets.
4Management's outlook on competitive pressures in the telecommunications sector.
5Comments on any new services or technologies being introduced.