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Fiat Chrysler Q3 profit climbs 71.8% YOY

Fiat Chrysler Automobiles NV said its normalized net income for the third quarter came to 56 euro cents per share, compared with the S&P Capital IQ consensus estimate of 50 cents per share.

EPS climbed 72.5% year over year from 33 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €874.1 million, an increase of 71.8% from €508.9 million in the prior-year period.

The normalized profit margin rose to 3.3% from 1.9% in the year-earlier period.

Total revenue fell on an annual basis to €26.41 billion from €26.84 billion, and total operating expenses fell year over year to €24.83 billion from €25.62 billion.

Reported net income increased 49.9% from the prior-year period to €910.4 million, or 58 cents per share, from €607.5 million, or 39 cents per share.