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Hyundai Home Shopping Network profit misses consensus by 29.5% in Q3

Hyundai Home Shopping Network Corp. said its normalized net income for the third quarter came to 1,858.04 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,637.00 won per share.

EPS decreased 14.3% year over year from 2,167.97 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.01 billion won, a decrease of 15.4% from 26.01 billion won in the prior-year period.

The normalized profit margin declined to 10.1% from 12.1% in the year-earlier period.

Total revenue increased year over year to 217.62 billion won from 214.63 billion won, and total operating expenses increased 6.6% on an annual basis to 195.10 billion won from 182.95 billion won.

Reported net income fell 14.5% on an annual basis to 27.45 billion won, or 2,317.54 won per share, from 32.09 billion won, or 2,675.00 won per share.

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