QIWI Q2 Earnings Advance, Raises Annual Outlook - Quick Facts

(RTTNews) - Moscow-based online payment systems provider QIWI plc (QIWI) Thursday reported a rise in second-quarter earnings on the back of robust revenue growth. The company also raised its annual earnings and sales outlook.

For the 3-month period, net earnings increased to 715.84 million rubles or 13.66 rubles per share, from 453.39 million rubles or 8.83 rubles per share a year earlier.

Excluding certain items, earnings stood at 899 million rubles or 16.87 rubles per share, compared with 546 million rubles or 10.50 per share a year ago.

In USD, net earnings were $21.28 million or $0.41 per share, and adjusted earnings were $26.7 million or $0.50 per share for the quarter ended June, 2014.

On average, five analysts polled by Thomson-Reuters estimated the company's earnings to be $0.39 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA totaled 1.28 billion rubles, compared with 796 million rubles a year ago.

Quarterly revenues surged to 3.49 billion rubles from 2.88 billion rubles a year earlier. In USD, revenues stood at $103.73 million. Total payment volume increased 17 percent to RUB 156.3 billion

The board recommended a dividend of 46 cents per share, payable on August 19 to shareholders of record on August 18.

The company expects adjusted earnings to grow by 36 to 38 percent (previous guidance 27 to 29 percent) and adjusted revenues to rise by 30 to 32 percent (previous guidance 24 to 26 percent)