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5/14/2020, 7:34 AM (Source: TeleTrader)
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Wirecard posts preliminary revenue of €700.2M in Q1

Wirecard said in its preliminary earnings report on Thursday that its revenue in the first quarter of 2020 stood at €700.2 million, marking a 24% jump year on year but missing market estimates.

Meanwhile, preliminary earnings before interest, taxes, depreciation and amortization (EBITDA) surged 26% compared to the same period in 2019 to reach €199.2 million. The company noted its outlook for 2020 remains unchanged as it expects to achieve EBITDA in the range of between €1 billion and €1.12 billion.

"We have made a good start to the new financial year. However, the Covid-19 effects had a negative impact on our airline/travel business. We were able to largely offset these effects by growth in our online business in the consumer and digital goods sectors," chief financial officer, Alexander von Knoop, stated.

The final figures for the first quarter are set to be released on June 16.

Breaking the News / NP