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MediaTek profit misses consensus by 30.5% in Q2

MediaTek Inc. said its second-quarter normalized net income came to NT$3.09 per share, compared with the S&P Capital IQ consensus estimate of NT$4.45 per share.

EPS decreased 43.3% year over year from NT$5.46.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$4.85 billion, a decrease of 43.5% from NT$8.58 billion in the prior-year period.

The normalized profit margin declined to 10.3% from 15.8% in the year-earlier period.

Total revenue declined 13.1% on an annual basis to NT$47.04 billion from NT$54.13 billion, and total operating expenses fell from the prior-year period to NT$40.18 billion from NT$41.37 billion.

Reported net income fell 49.5% from the prior-year period to NT$6.34 billion, or NT$4.05 per share, from NT$12.56 billion, or NT$8.00 per share.

As of Aug. 14, US$1 was equivalent to NT$32.12.