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

Tanzeel Akhtar

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. 

View more earnings on QIWI

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.  

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