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Fiat Chrysler profit misses consensus by 46.6% in Q1

Fiat Chrysler Automobiles NV said its normalized net income for the first quarter came to 7 euro cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS increased 9.5% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €104.8 million, a gain of 35.8% from €77.1 million in the year-earlier period.

The normalized profit margin declined to 0.2% from 0.3% in the year-earlier period.

Total revenue rose 19.3% on an annual basis to €26.40 billion from €22.13 billion, and total operating expenses climbed 19.2% from the prior-year period to €25.65 billion from €21.52 billion.

Reported net income came to €78.0 million, or 5 cents per share, compared with a loss of €189.0 million, or a loss of 16 cents per share, in the year-earlier period.