Qiwi (QIWI), which operates a network of financial service kiosks in Russia and several nearby countries, surpassed first-quarter earnings and sales expectations and announced an acquisition. Earnings increased 41.3% in Russian rubles, above estimates for a 10.7% gain. Revenue rose 36.5%, topping forecasts for 15% growth. In dollars, the company earned 35 cents a share on revenue of $43 million. Qiwi continues to see 12%-16% growth for both
Shares of Russian electronic-payments firm Qiwi (QIWI) jumped 8.2% in above-average volume in the stock market today, closing at 47.58, a more than three-month high. The Russian newspaper Kommersant reported that the country’s largest independent financial group, Otkritie, was in talks to buy a minority stake in Qiwi, with one of the sellers being mail.ru, which owns a 10.4% stake. Otkritie, which owns a payment system called Rapida, reportedly
Shares of Russian online payments provider Qiwi (QIWI) were down 3.5% in midday trading in the stock market today, though the company posted Q4 earnings and revenue that beat forecasts, as did its 2014 guidance. The stock of the Moscow-based company dubbed “Russia’s PayPal” has been volatile in the wake of the Ukraine crisis and worries over increased regulation of cross-border payments by Russia’s government. Qiwi stock is down more than 30%