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CJ O Shopping profit misses consensus by 40.3% in Q3

CJ O Shopping Co. Ltd. said its third-quarter normalized net income was 3,019.18 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 5,058.59 won per share.

EPS decreased year over year from 3,121.62 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 18.20 billion won, a decrease from 18.82 billion won in the year-earlier period.

The normalized profit margin rose to 3.3% from 3.0% in the year-earlier period.

Total revenue fell 11.9% on an annual basis to 553.07 billion won from 627.54 billion won, and total operating expenses fell 12.9% from the prior-year period to 503.72 billion won from 578.63 billion won.

Reported net income rose 36.1% from the prior-year period to 17.80 billion won, or 2,953.00 won per share, from 13.08 billion won, or 2,169.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.