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Qiwi Earnings: QIWI Stock Ticks Lower Despite Beating Estimates

Qiwi earnings for the fourth quarter of 2018 have QIWI stock down on Thursday, despite beating estimates.

Qiwi Earnings: QIWI Stock Ticks Lower Despite Beating Estimates

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Qiwi (NASDAQ:QIWI) reported earnings per share of 21 cents for the fourth quarter of 2018. This is an increase over the company’s earnings per share of 16 cents from the same time last year. It also beats out Wall Street’s earnings per share estimate of 11 cents for the quarter, but was unable to keep QIWI stock from falling today.

The Qiwi  earnings report for the fourth quarter of the year also has net income coming in at $52.00 million. This represents a roughly 97% increase over the company’s net income from the fourth quarter of 2017.

Operating profit reported in the Qiwi earnings report for the fourth quarter of 2018 comes in at $16.00 million. This has the company’s operating profit increasing by about 70% from the same period of the year prior.

The most recent Qiwi earnings report also has the company bringing in revenue of $134.00 million. This is up around 46% from the company’s revenue reported in the fourth quarter of the previous year. It also comes in well above analysts’ revenue estimate of $72.14 million for the quarter, but QIWI stock is still down today.

Qiwi also includes its outlook for 2019 in its newest earnings report. It is expecting revenue for the year to flat to up 8%. The company is also looking for net income for the year to increase between 15% and 25% for the year.

QIWI stock was down 2% as of noon Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/03/qiwi-earnings-drop-stock-despite-beat/.

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