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Kia Motors profit misses consensus by 41.1% in Q2

Kia Motors Corp. said its normalized net income for the second quarter was 1,084.84 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,840.69 won per share.

EPS fell 16.3% year over year from 1,296.30 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 434.95 billion won, a decrease of 17.1% from 524.94 billion won in the year-earlier period.

The normalized profit margin increased to 5.0% from 4.4% in the year-earlier period.

Total revenue climbed year over year to 12.441 trillion won from 12.054 trillion won, and total operating expenses climbed year over year to 11.790 trillion won from 11.285 trillion won.

Reported net income declined 27.1% from the prior-year period to 746.51 billion won, or 1,861.95 won per share, from 1.024 trillion won, or 2,528.10 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.