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Ambassador Hotel profit misses consensus by 31.7% in Q3

Ambassador Hotel Ltd. said its normalized net income for the third quarter came to 29 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS fell year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$105.2 million, a decline from NT$109.8 million in the prior-year period.

The normalized profit margin dropped to 12.2% from 12.9% in the year-earlier period.

Total revenue climbed year over year to NT$865.9 million from NT$850.5 million, and total operating expenses increased 5.2% from the prior-year period to NT$820.9 million from NT$780.4 million.

Reported net income fell year over year to NT$156.0 million, or 43 cents per share, from NT$163.0 million, or 44 cents per share.

As of Nov. 10, US$1 was equivalent to NT$32.74.