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MediaTek profit misses consensus by 34.1% in Q1

MediaTek Inc. said its first-quarter normalized net income came to NT$3.25 per share, compared with the S&P Capital IQ consensus estimate of NT$4.93 per share.

EPS declined 32.6% year over year from NT$4.82.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$5.09 billion, a decrease of 29.3% from NT$7.20 billion in the prior-year period.

The normalized profit margin declined to 10.7% from 15.7% in the year-earlier period.

Total revenue rose year over year to NT$47.54 billion from NT$46.01 billion, and total operating expenses increased 13.3% from the prior-year period to NT$39.86 billion from NT$35.19 billion.

Reported net income declined 28.9% year over year to NT$7.22 billion, or NT$4.61 per share, from NT$10.15 billion, or NT$6.80 per share.

As of May 15, US$1 was equivalent to NT$30.44.