Qiwi (NASDAQ:QIWI) earnings for fiscal fourth quarter of 2019 have QIWI stock falling hard on Tuesday. That comes after reporting adjusted earnings per share (EPS) of ₽18.74, which is below Wall Street’s estimate of ₽18.87. The payment service company’s revenue of ₽6.25 billion is also less than analysts’ estimates of ₽6.31 billion.
Here are some additional things to note from the most recent Qiwi earnings report.
- Adjusted per-share earnings are up 14.27% from ₽16.40 in the same period of the year prior.
- Revenue for the quarter comes in 7.39% higher than the ₽5.82 billion reported during the fiscal fourth quarter of 2018.
- Operating income of ₽945 million is a 15.63% drop year-over-year from ₽1.12 billion.
- The Qiwi earnings report also includes a net income of ₽687 million.
- That’s a 23.24% decline compared to its net income of ₽895 million reported during the same time last year.
Boris Kim, Chief Executive Officer of Qiwi, said this about the QIWI stock earnings report:
“In 2019, we demonstrated outstanding performance, especially in our Payment Services business, which delivered 27% segment net revenue and segment net profit growth year over year. The performance of our payment services business was driven predominantly by the expansion and enhancement of the product proposition we offer to our users, merchants and partners underpinned by the secular trends in our key markets, the latter, however, have started to decelerate towards the end of the fourth quarter of 2019.”
The Qiwi earnings report also includes a guidance update. According to the company, it doesn’t yet know the impact that the coronavirus from China will have on its business. It expects revenue to increase 3% to 13% in fiscal 2020, but says it could revise this if the virus has a negative effect on it.
QIWI stock was down 9.3% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.