VEON Ltd. reported a 53.6% year-over-year increase in digital revenue during its second-quarter earnings call on July 31, 2026 [1].
The results signal a successful transition for the company as it pivots from a traditional telecommunications provider to a digital-led operator. This growth reflects increasing consumer adoption of non-traditional services across its diverse geographic footprint.
Digital revenue reached $342 million [2]. This surge was supported by a growing user base, with the company reporting more than 135 million active digital service users [3]. Furthermore, the number of three-month active digital users exceeds 200 million [4].
VEON reported growth in each of its five markets [5]. This broad-based expansion contributed to the company's decision to upgrade its revenue and EBITDA outlook for the remainder of 2026 [1].
The earnings call, which originated from Dubai and New York, focused on the company's digital-driven surge [6]. By leveraging its infrastructure to offer digital services, VEON is attempting to diversify its income streams beyond standard voice and data plans.
Executives said that the current trajectory allows for a more aggressive financial forecast. The upgraded outlook suggests that the company expects the momentum from the second quarter to persist through the end of the year [1].
“Digital revenue grew 53.6% year-over-year”
VEON's ability to scale digital services across five different markets suggests that its strategy to move beyond core connectivity is gaining traction. By increasing its active user base to over 135 million, the company is reducing its reliance on legacy telecom revenue and positioning itself as a diversified digital platform, which typically commands higher valuation multiples in the tech sector.
