<p>Qiwi (NASDAQ: QIWI) results for the fourth quarter of 2019, QIWI shares have fallen sharply on Tuesday. It comes after reporting adjusted earnings per share (EPS) of of18.74, which is below the Wall Street estimate of ₽18.87. The payment service company’s revenue of .26.25 billion is also less than the analysts’ estimates of ₽6.31 billion.
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Here are some additional things to note from the latest Qiwi results report.
Adjusted earnings per share increased by 14.27% from ₽16.40 in the same period the year before. Revenues for the quarter amounted to 7.39% higher than the EUR 5.82 billion reported during the fourth quarter of fiscal policy 2018. The operating profit of EUR 945 million is a decrease of 15.63% compared with the previous year from SEK -1.12 billion . Qiwi’s earnings report also includes a net profit of ₽687 million. This is a decrease of 23.24% compared to its net profit of 95,895 million reported during the same period last year.
Boris Kim, CEO of Qiwi, said this about the QIWI share income report:
“In 2019, we showed outstanding results, especially in our payment services business, which delivered a 27% segment of net sales and a segment of net profit growth year over year. The performance of our payment service is mainly driven by the expansion and improvement of the product range we offer our users, merchants and partners who are supported by the secular trends in our key markets, but the latter have begun to slow down towards the end of the fourth quarter of 2019. ”
Qiwi’s earnings report also includes a guidance update. According to the company, it is not yet known what effect coronavirus from China will have on its business. It expects revenue to increase by 3% to 13% over the 2020 financial year, but says it may revise this if the virus has a negative effect on it.
The QIWI share fell 9.3% as of Tuesday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/qiwi-earnings-hammer-stock-hard/.
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