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Airbus profit misses consensus by 17.3% in Q2

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Airbus profit misses consensus by 17.3% in Q2

Airbus Group SE said its second-quarter normalized net income amounted to 71 euro cents per share, compared with the S&P Capital IQ consensus estimate of 86 cents per share.

EPS declined 6.6% year over year from 76 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €558.5 million, a decline of 6.0% from €594.1 million in the prior-year period.

The normalized profit margin fell to 3.7% from 4.1% in the year-earlier period.

Total revenue increased 15.6% year over year to €16.82 billion from €14.55 billion, and total operating expenses climbed 17.8% year over year to €16.05 billion from €13.63 billion.

Reported net income rose 5.2% on an annual basis to €732.0 million, or 93 cents per share, from €696.0 million, or 89 cents per share.