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LVMH profit misses consensus by 17.1% in H1

LVMH Moët Hennessy Louis Vuitton SE said its normalized net income for the first half came to €2.88 per share, compared with the S&P Capital IQ consensus estimate of €3.48 per share.

EPS climbed 7.0% year over year from €2.69.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.45 billion, a gain of 7.3% from €1.36 billion in the year-earlier period.

Total revenue increased 19.3% on an annual basis to €16.71 billion from €14.01 billion, and total operating expenses grew 20.1% from the prior-year period to €13.74 billion from €11.44 billion.

Reported net income increased year over year to €1.58 billion, or €3.13 per share, from €1.51 billion, or €3.00 per share.