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Constellation Software profit misses consensus by 51.8% in Q3

Constellation Software Inc. said its third-quarter normalized net income amounted to $2.04 per share, compared with the S&P Capital IQ consensus estimate of $4.22 per share.

EPS increased 39.9% year over year from $1.46.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $43.1 million, an increase of 39.9% from $30.8 million in the prior-year period.

The normalized profit margin climbed to 9.3% from 7.4% in the year-earlier period.

Total revenue grew 9.9% year over year to $460.4 million from $418.8 million, and total operating expenses climbed 7.9% year over year to $388.4 million from $359.8 million.

Reported net income increased 43.0% on an annual basis to $45.8 million, or $2.16 per share, from $32.0 million, or $1.51 per share.