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Constellation Software profit misses consensus by 57.7% in Q2

Constellation Software Inc. said its normalized net income for the second quarter was $1.68 per share, compared with the S&P Capital IQ consensus estimate of $3.98 per share.

EPS increased 65.8% year over year from $1.02.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $35.7 million, a gain of 65.8% from $21.5 million in the prior-year period.

The normalized profit margin climbed to 8.0% from 5.2% in the year-earlier period.

Total revenue grew 6.6% year over year to $443.5 million from $415.9 million, and total operating expenses came to $379.5 million, compared with $377.3 million in the year-earlier period.

Reported net income rose 42.6% on an annual basis to $32.6 million, or $1.54 per share, from $22.9 million, or $1.08 per share.