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Pandora profit misses consensus by 18.6% in Q2

Pandora A/S said its normalized net income for the second quarter was 6.01 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 7.38 kroner per share.

EPS rose 45.0% year over year from 4.14 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 728.8 million kroner, an increase of 40.8% from 517.5 million kroner in the year-earlier period.

The normalized profit margin dropped to 20.3% from 20.3% in the year-earlier period.

Total revenue increased 41.4% on an annual basis to 3.60 billion kroner from 2.54 billion kroner, and total operating expenses climbed 38.8% year over year to 2.36 billion kroner from 1.70 billion kroner.

Reported net income rose 37.5% year over year to 910.0 million kroner, or 7.50 kroner per share, from 662.0 million kroner, or 5.30 kroner per share.

As of Aug. 11, US$1 was equivalent to 6.76 Danish kroner.