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New Wave Group profit misses consensus by 21.8% in Q3

New Wave Group AB (publ) said its normalized net income for the third quarter was 1.03 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.32 kronor per share.

EPS increased 39.1% year over year from 74 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 68.5 million kronor, a gain of 39.1% from 49.3 million kronor in the year-earlier period.

The normalized profit margin climbed to 5.3% from 3.9% in the year-earlier period.

Total revenue increased on an annual basis to 1.30 billion kronor from 1.27 billion kronor, and total operating expenses totaled 1.17 billion kronor, compared with 1.17 billion kronor in the prior-year period.

Reported net income increased 33.7% year over year to 86.9 million kronor, or 1.31 kronor per share, from 65.0 million kronor, or 98 öre per share.

As of Nov. 10, US$1 was equivalent to 9.11 Swedish kronor.