Ryanair Holdings plc said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 51 euro cents per share, compared with the S&P Capital IQ consensus estimate of 71 cents per share.

EPS increased 12.1% year over year from 45 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €639.0 million, an increase of 6.4% from €600.8 million in the year-earlier period.

The normalized profit margin climbed to 26.1% from 25.2% in the year-earlier period.

Total revenue grew year over year to €2.44 billion from €2.39 billion, and total operating expenses totaled €1.40 billion, compared with €1.42 billion in the year-earlier period.

Reported net income declined 21.4% from the prior-year period to €912.1 million, or 72 cents per share, from €1.16 billion, or 87 cents per share.