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CJ O Shopping profit misses consensus by 25.0% in Q2

CJ O Shopping Co. Ltd. said its second-quarter normalized net income came to 4,951.76 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 6,600.98 won per share.

EPS rose 77.6% year over year from 2,788.10 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.92 billion won, a decrease of 40.8% from 25.20 billion won in the year-earlier period.

The normalized profit margin fell to 2.5% from 3.8% in the year-earlier period.

Total revenue decreased 11.8% on an annual basis to 588.80 billion won from 667.27 billion won, and total operating expenses declined 10.2% year over year to 543.55 billion won from 605.08 billion won.

Reported net income declined 29.6% from the prior-year period to 21.75 billion won, or 7,218.00 won per share, from 30.89 billion won, or 3,417.48 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.