ACS SA said its first-quarter normalized net income was 65 euro cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS increased year over year from 64 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €202.5 million, a gain from €195.5 million in the prior-year period.

The normalized profit margin declined to 2.4% from 2.6% in the year-earlier period.

Total revenue climbed 11.2% on an annual basis to €8.36 billion from €7.52 billion, and total operating expenses increased 10.5% from the prior-year period to €7.92 billion from €7.17 billion.

Reported net income increased 14.8% on an annual basis to €233.0 million, or 75 cents per share, from €203.0 million, or 66 cents per share.