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Ayala Corp. profit misses consensus by 25.8% in Q2

Ayala Corp. said its second-quarter normalized net income amounted to 8.14 Philippine pesos per share, compared with the S&P Capital IQ consensus estimate of 10.97 pesos per share.

EPS climbed year over year from 8.01 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.16 billion pesos, a gain from 5.03 billion pesos in the prior-year period.

The normalized profit margin fell to 7.2% from 9.1% in the year-earlier period.

Total revenue climbed 20.7% year over year to 67.06 billion pesos from 55.56 billion pesos, and total operating expenses rose 27.7% year over year to 47.32 billion pesos from 37.05 billion pesos.

Reported net income grew from the prior-year period to 7.80 billion pesos, or 12.32 pesos per share, from 7.67 billion pesos, or 12.22 pesos per share.

As of Aug. 14, US$1 was equivalent to 51.22 Philippine pesos.