GAEC Educação SA said its first-quarter normalized net income came to 51 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 68 centavos per share.
EPS increased 23.6% year over year from 41 centavos.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 42.1 million reais, an increase of 17.9% from 35.8 million reais in the prior-year period.
The normalized profit margin fell to 18.3% from 25.9% in the year-earlier period.
Total revenue rose 58.1% year over year to 218.0 million reais from 137.9 million reais, and total operating expenses climbed 68.6% from the prior-year period to 153.0 million reais from 90.7 million reais.
Reported net income rose 41.2% from the prior-year period to 63.8 million reais, or 77 centavos per share, from 45.2 million reais, or 52 centavos per share.
As of May 7, US$1 was equivalent to 3.05 reais.
