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New Wave Group profit misses consensus by 32.8% in Q3

New Wave Group AB (publ) said its normalized net income for the third quarter amounted to 74 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 1.10 kronor per share.

EPS decreased 7.2% year over year from 80 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.3 million kronor, a decrease of 7.2% from 53.1 million kronor in the year-earlier period.

The normalized profit margin fell to 3.9% from 4.7% in the year-earlier period.

Total revenue climbed 13.3% year over year to 1.27 billion kronor from 1.12 billion kronor, and total operating expenses rose 14.4% on an annual basis to 1.17 billion kronor from 1.03 billion kronor.

Reported net income fell on an annual basis to 65.0 million kronor, or 98 öre per share, from 67.0 million kronor, or 1.01 kronor per share.

As of Nov. 12, US$1 was equivalent to 8.63 Swedish kronor.