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Topkey profit misses consensus by 24.4% in Q3

Topkey Corp. said its third-quarter normalized net income came to NT$1.66 per share, compared with the S&P Capital IQ consensus estimate of NT$2.20 per share.

EPS decreased 28.5% year over year from NT$2.33.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$151.3 million, a decline of 28.5% from NT$211.7 million in the year-earlier period.

The normalized profit margin fell to 8.3% from 11.1% in the year-earlier period.

Total revenue fell 7.6% year over year to NT$1.76 billion from NT$1.91 billion, and total operating expenses decreased 11.7% on an annual basis to NT$1.53 billion from NT$1.73 billion.

Reported net income decreased 17.3% on an annual basis to NT$200.3 million, or NT$2.20 per share, from NT$242.0 million, or NT$2.66 per share.

As of Nov. 11, US$1 was equivalent to NT$31.93.