Categories Earnings, Finance, LATEST

Qiwi beats big in Q2, raises guidance

Russian payment service provider Qiwi (NASDAQ: QIWI) on Monday reported better-than-expected second-quarter results, sending its shares up 2.5% during pre-market hours.

Total Adjusted Net Revenues came in at $88.2 million, 23% higher than last year and stronger than the street projection of $74.25 million. The top-line was boosted by a 35% increase in payment services, which includes Qiwi wallet and other applications.

qiwi payment services
A payment card offering from QIWI (Credit: QIWI Russia)

Payment service volume also saw a 41% jump compared to last year.

Adjusted net income came in at $0.50 per share, almost 20 cents higher than what the street was looking at.

CEO Sergey Solonin said in a statement, “Our growth is simultaneously underpinned by the secular trends in our key markets. Our results clearly emphasize the value and relevance of the payment ecosystem we have developed so far and aim to develop further.”

READ: Meet the newest weed stock with $19 mil in revenues

Buoyed by the upbeat results, QIWI upgraded its guidance on 2019 adjusted net revenue, payment services segment revenue and payment services profit guidance. The company currently expects an 11-16% increase in total adjusted net revenue, whereas payment services revenue is projected to grow 23-27%.

Net profit in the payment services segment is estimated to increase by 25% to 29% over 2018. Meanwhile, the guidance on adjusted net profit growth of 40-50% was kept unchanged.

QIWI stock has gained almost 36% so far this year.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

PEP Earnings: All you need to know about PepsiCo Q1 2021 earnings results

PepsiCo Inc. (NASDAQ: PEP) reported first-quarter 2021 earnings results today. Net revenues increased 6.8% year-over-year to $14.82 billion while organic revenue growth was 2.4%. Net income attributable to PepsiCo was $1.7 billion,

The worst seems to be over for Boston Scientific. Is the stock a buy?

The pandemic has had a mixed impact on the healthcare sector since its outbreak more than a year ago, putting the emergency care department into overdrive while slowing down the

Two areas that provide Pfizer (PFE) with ample opportunity for future growth

Shares of Pfizer Inc. (NYSE: PFE) have gained over 8% in the past one year. Pfizer is at the forefront of the COVID-19 vaccination drive and it has established a


Add Comment
Viewing Highlight