The largest electronic payment system Qiwi reported an almost double increase in quarterly profit. The first quarter income was 95 percent higher than in the same period of the prior year, totaling 685 million rubles. The adjusted income jumped 46 percent to 1.8 billion rubles. The adjusted EBITDA added 75 percent to 1,06 billion rubles in the first three months of 2014 compared with the first quarter of 2013. Amid such financial success, shareholders' benefit rose 89 percent to 13.27 rubles in January-March. Of course, the main driver of growth was the number of transactions. In Q1, the figure grew 20 percent and amounted to 149.6 billion rubles. Qiwi's financial results topped all expectations of analysts. The investment group Renessans Kapital had forecast the revenue to grow 24 percent to 1.5 billion rubles, and an advance in EBITDA of 31 percent which would add to 805 million rubles. This time the Russian experts underestimated the company's potential. On the contrary, their foreign colleagues at J.P.Morgan were much closer to the actual results in their anticipations. Qiwi's revenue growth had been estimated at 30 percent compared with the previous year, at 1.66 billion rubles. EBITDA had been predicted at 833 million rubles, up 36 percent. The brand name Qiwi was established April 22, 2008 in Russia. This event became a landmark in the instant payment segment. The company evolved from a partner-oriented payment system to a robust retail service provider. Today Qiwi offers its users easy-to-use and accessible tools for regular payments. You can pay for services of over 54 thousand providers via Qiwi terminals.