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Investor AB Q2 profit climbs 166.9% YOY

Investor AB said its normalized net income for the second quarter amounted to 7.88 Swedish kronor per share, a gain of 166.7% from 2.95 kronor per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.03 billion kronor, an increase of 166.9% from 2.26 billion kronor in the prior-year period.

The normalized profit margin rose to 32.8% from 21.5% in the year-earlier period.

Total revenue increased 75.0% on an annual basis to 18.42 billion kronor from 10.53 billion kronor, and total operating expenses grew 15.7% from the prior-year period to 7.79 billion kronor from 6.74 billion kronor.

Reported net income increased 180.9% on an annual basis to 9.54 billion kronor, or 12.46 kronor per share, from 3.40 billion kronor, or 4.44 kronor per share.

As of July 19, US$1 was equivalent to 8.28 Swedish kronor.