Earnings during the reporting period were up 52.1% on the same period of 2007, to $2.6 billion.
"In the second quarter we successfully refinanced our short-term debt related to the Golden Telecom acquisition. Following the refinancing, we started to intensify our sales and marketing efforts in the Russian mobile segment, resulting in 11% quarter-on-quarter revenue growth in this segment," commented Alexander Izosimov, chief executive officer of VimpelCom.
The company, which operates under the Beeline brand, provides services in Russia, Ukraine, Uzbekistan, Tajikistan, Kazakhstan, Armenia and Georgia.
VimpelCom's main shareholders are Altimo, the telecoms arm of Russia's Alfa Group, (44% of voting shares) and Norway's Telenor (29.9% of voting shares).