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Investor AB swings to profit in Q1

Investor AB said its normalized net income for the first quarter came to 24.96 Swedish kronor per share, compared with a loss of 7.91 kronor per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.10 billion kronor, compared with a loss of 6.03 billion kronor in the prior-year period.

The normalized profit margin was 49.6%.

Total revenue totaled 38.49 billion kronor, and total operating expenses grew 16.7% on an annual basis to 7.56 billion kronor from 6.48 billion kronor.

Reported net income came to 30.41 billion kronor, or 39.74 kronor per share, compared with a loss of 9.69 billion kronor, or a loss of 12.71 kronor per share, in the prior-year period.

As of April 24, US$1 was equivalent to 8.86 Swedish kronor.