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Constellation Software profit misses consensus by 63.4% in Q1

Constellation Software Inc. said its normalized net income for the first quarter amounted to $1.74 per share, compared with the S&P Capital IQ consensus estimate of $4.77 per share.

EPS rose 94.0% year over year from 90 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $37.0 million, an increase of 94.0% from $19.1 million in the year-earlier period.

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

Total revenue rose 14.0% on an annual basis to $555.3 million from $487.0 million, and total operating expenses rose 11.9% year over year to $477.2 million from $426.6 million.

Reported net income grew 117.0% from the prior-year period to $40.5 million, or $1.91 per share, from $18.6 million, or 88 cents per share.