Ukraine’s Kyivstar raises outlook as digital business surges despite ongoing war

Kyivstar has raised its revenue growth forecast for this year after strong results in mobile and digital services. The expansion of its digital business is helping Ukraine’s largest telecom operator build new income streams while Russian attacks continue to threaten infrastructure.

The company now expects revenue to grow by 15%–17%, compared with its earlier forecast of 14%–16%. Third-quarter revenue rose 17.5% year on year to $349 million, while operating profit increased 10.3% to $189 million. Digital services revenue climbed nearly 69% to $76 million and now accounts for more than a fifth of total revenue; Kyivstar is expanding ride-hailing and healthcare services and plans to acquire cloud provider GigaCloud for nearly $50 million. CEO Oleksandr Komarov said recent attacks hit infrastructure but did not interrupt services, and the company’s plans do not assume the war will end soon.