What happened Shares of Cypriot-registered (but really Russian) Qiwi (NASDAQ: QIWI) exploded higher in Monday trading, closing the day up 20.9% after beating expectations for fiscal Q2 earnings this morning. Analysts had hoped Qiwi, a specialist in online and mobile electronic payments, would earn $0.30 per diluted share on sales of $74.2 million for the quarter. Instead, it reported a monster $0.43 per share profit -- nearly half-again as much as analysts had predicted -- on adjusted net revenue of $88.2 million. Image source: Getty Images. So what That revenue increased 23% year over year, led by 35% growth in payment services, which include such things as digital wallets and bill payment from self-serve kiosks. Earnings per share increased 77% in ruble terms, and the company said its self-calculated "adjusted net profit" more than doubled -- up 125%. Now what Qiwi also updated full-year guidance, predicting that adjusted net revenue will grow 11% to 16% this year in comparison with 2018, while payment services growth decelerates to a range of 23% to 27%. Adjusted net profit is predicted to grow even faster -- 40% to 50%. At the midpoint, that is even somewhat ahead of the 43% profit growth that Wall Street is looking for. In other words, after beating expectations in Q2, Qiwi looks set to go on beating them all year long. 10 stocks we like better than QiwiWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Qiwi wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 1, 2019 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source