Kaspi.kz (KSPI) shares soared 5.20% in pre-market trading on Monday, following the release of its impressive third-quarter financial results. The Kazakhstan-based fintech company, which operates the Kaspi.kz and Kaspi Pay Super Apps, reported significant growth across its key business segments, surpassing analyst expectations.
The company announced Q3 revenue of 1.1 trillion Kazakhstani Tenge, equivalent to $2.069 billion, substantially beating the FactSet estimate of 926.34 billion Tenge. This strong performance was driven by robust growth in multiple areas of Kaspi.kz's business. The Payments segment saw Total Payment Value (TPV) and transactions increase by 18% and 14% year-over-year, respectively. The Marketplace platform also showed impressive results, with purchases up 36% compared to the same period last year.
Despite challenges such as smartphone supply disruptions in Kazakhstan and regulatory changes, Kaspi.kz demonstrated resilience in its core business. The company's focus on innovation, including the upcoming launch of Kaspi Alaqan (a pay-by-palm feature) and the integration of AI tools in its Marketplace, appears to be resonating well with investors. Additionally, Kaspi.kz announced a $100 million ADS repurchase program, signaling confidence in its long-term growth prospects and commitment to shareholder value. These factors combined have likely contributed to the significant pre-market stock price increase, as investors react positively to the company's strong performance and future outlook.
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