QIWI plc (QIWI) Misses Q2 EPS by 1c, Revenues Beat

QIWI plc (NASDAQ: QIWI) reported Q2 EPS of $0.23, $0.01 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $71.9 million versus the consensus estimate of $60 million.

“Today I’m exited to share with you our second quarter 2018 results and our robust performance in the first half of 2018. I would like to highlight the continued growth in our core Payment Services segment that demonstrated 28% segment net revenue growth and 22% segment net profit growth in the second quarter 2018 driven by the development of our payment ecosystem and implementation of new projects in our focus market verticals,” said Sergey Solonin, QIWI’s chief executive officer. “We continued to demonstrate strong financial results in the payment services segment, which remains a core part of our business, generating strong cash flows and thus were able to continue investing in our new business lines and projects. We continued to focus on the development and expansion of our Consumer Financial Services segment and our SME business through Tochka multibank service.I am also pleased to announce that we have reached the final agreements with Otkritie Bank in respect of Tochka and Rocketbank transactions and are currently in the process of completing these transactions.We see many opportunities for growing our payment services business and creating a wider digital ecosystem and broader service offering through our new projects expanding and penetrating further our focus markets and developing new niches. We continue to see 2018 as a year of investments in our new projects and will continue to focus on executing our strategy and developing our new initiatives.”

For earnings history and earnings-related data on QIWI plc (QIWI) click here.

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