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Russian Payments Company Qiwi Trades Higher On Q1 Beat-And-Raise

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Russian Payments Company Qiwi Trades Higher On Q1 Beat-And-Raise

Russian payment services provider Qiwi PLC (NASDAQ: QIWI) reported Thursday that its first-quarter revenue increased 31 percent to 5.367 million rubles ($82.9 million).

Earnings per share of 33 cents beat a 27-cent consensus estimate. 

Qiwi stock was trading higher by 7.04 percent at $14.60 per share at the time of publication Thursday. 

Net revenue in the payments services segment jumped by 32 percent to 4.836 million rubles, the company said. 

Qiwi updated its full-year guidance, projecting a 9-15-percent increase in total adjusted net revenue over 2018 and a 40-50-percent year-over-year increase in adjusted net profit. 

"This quarter we continue to demonstrate strong performance, especially in our Payment Services business, which delivered 32% segment net revenue growth and 35% segment net profit growth," CEO Sergey Solonin said in a statement.  

Related Links: 

Western Union Analysts Review Q1 Miss; Mizuho Calls Stock 'Value Trap' 

Visa Buys Payment Services Company Earthport In Deal 'Modernizing The Way We Move Money' 

Posted-In: paymentsEarnings News Guidance Best of Benzinga

 

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