VimpelCom Q1 Profit Rises, But Revenues Decline - Quick Facts

(RTTNews) - VimpelCom Ltd. (VIP), a provider of telecommunications services, said its first-quarter net income attributable to shareholders rose 3 percent to $189 million from $184 million in the year-ago period.

However, the latest quarter's results were negatively impacted by exceptional items amounting to $40 million.

Total revenue for the quarter declined to $2.02 billion from last year's $2.31 billion. Organically, revenue increased 4 percent, driven by strong growth in Emerging Markets and Eurasia.

Total mobile customers declined to 194.0 million from 195.1 million in the same period last year.

Looking ahead to fiscal 2016, VimpelCom said it remains on track to achieve its financial targets for the year.