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MediaTek Q2 profit falls YOY

MediaTek Inc. said its normalized net income for the second quarter was NT$1.44 per share, compared with the S&P Capital IQ consensus estimate of NT$1.55 per share.

EPS decreased 53.6% year over year from NT$3.10.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$2.26 billion, a decline of 53.5% from NT$4.85 billion in the prior-year period.

The normalized profit margin declined to 3.9% from 6.7% in the year-earlier period.

Total revenue decreased 19.9% on an annual basis to NT$58.08 billion from NT$72.53 billion, and total operating expenses declined 14.9% from the prior-year period to NT$55.72 billion from NT$65.46 billion.

Reported net income fell 63.5% on an annual basis to NT$2.37 billion, or NT$1.51 per share, from NT$6.49 billion, or NT$4.15 per share.

As of Aug. 14, US$1 was equivalent to NT$30.29.