QIWI plc (QIWI) Reports Q3 EPS of $0.21, Revenues Beat

QIWI plc (NASDAQ: QIWI) reported Q3 EPS of $0.21, versus $0.00 reported last year. Revenue for the quarter came in at $79.7 million versus the consensus estimate of $64.91 million.

• Total Adjusted Net Revenue increased 62% to RUB 5,230 million ($79.7 million)
• Payment Services Segment Net Revenue increased 34% to RUB 4,257 million ($64.9 million)
• Adjusted EBITDA increased 23% to RUB 1,633 million ($24.9 million)
• Adjusted Net Profit increased 10% to RUB 1,170 million ($17.8 million), or RUB 18.99 per diluted share
• Payment Services Segment Net Profit increased 27% to RUB 2,487 million ($37.9 million) or RUB 40.35 per diluted share
• Total Payment Services volume increased 26% to RUB 297.1 billion ($4.5 billion)

“Today I’m glad to share with you our third quarter 2018 results. This quarter we continued to grow our business delivering an impressive set of numbers. First of all, I would like to emphasize the robust performance of our core Payment Services segment, which demonstrated 34% segment net revenue growth and 27% segment net profit growth driven by the development of our payment ecosystem and growth in our key verticals including primarily betting related payment services that are presented as part of the e-commerce market vertical,” said Sergey Solonin, QIWI’s chief executive officer. “As we continued to benefit from the strong performance of the Payment Services segment, which remains a core part of our business, generating significant cash flows, we are well positioned to pursue our strategy and carry on with investing in new business lines and projects in order to build up our ecosystem, diversify our operations, prolong the life cycle of our clients and ultimately secure the long term growth prospects of our Company.

Looking forward, we see many opportunities for growing our payment services business as well as for creating a wider digital ecosystem and broader service offering through our new projects.”

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

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