QIWI - QIWI stock jumps even after narrowing full-year guidance

Cyprus-based QIWI (NASDAQ:QIWI) shares rise 6.1% in pre-market trading after the company tops the Q3 revenue consensus estimate, though it tightens its full-year outlook, according to its earnings report. Sees total net revenue declining by 10% to 15% on a Y/Y basis. Expects payment service net revenue to slip by 5% to 10% Y/Y. Anticipates adjusted net profit to also slide by 10% to 15% Y/Y. The narrowed outlook reflects recent changes in the betting industry landscape, conservative projections of recovery of cross-borders operations and sale of stake in the Tochka project, the report says. Q3 total net revenue of $88.2M beats the $84.3M consensus estimate, down slightly from $88.5M in the year-ago quarter. Adjusted EBITDA of $53M in the third-quarter slips from $53.6M in the same period a year ago. Adjusted EBITDA margin of 59.7% also declines from 60.6% in Q3 of last year. Payment services net revenue of $80.5M slides

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QIWI stock jumps even after narrowing full-year guidance