VEON Ltd's stock surged 7.64% in pre-market trading following the release of its first-quarter 2026 financial results and an upward revision to its full-year revenue guidance.

The Dubai-based telecom group reported robust Q1 performance with revenue increasing 17.0% year-over-year to $1.20 billion and EBITDA rising 17.7% to $517 million. Particularly impressive was the digital revenue segment, which surged 57.7% to $303 million, now representing over a quarter of the group's total revenue.

Based on this strong start to the year, VEON revised its 2026 revenue growth guidance upward to 11-14% in U.S. dollar terms, compared to its previous forecast of 9-12%. The company maintained its EBITDA growth guidance of 7-10%. Management cited resilient consumer demand, strong digital momentum, and favorable currency effects from a softer U.S. dollar as key drivers behind the improved outlook.