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Nobia profit misses consensus by 15.1% in Q2

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Nobia profit misses consensus by 15.1% in Q2

Nobia AB (publ) said its normalized net income for the second quarter was 1.50 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.77 kronor per share.

EPS rose year over year from 1.43 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 252.9 million kronor, an increase of 5.1% from 240.6 million kronor in the year-earlier period.

The normalized profit margin increased to 7.5% from 6.7% in the year-earlier period.

Total revenue grew on an annual basis to 3.67 billion kronor from 3.58 billion kronor, and total operating expenses grew from the prior-year period to 3.25 billion kronor from 3.17 billion kronor.

Reported net income grew from the prior-year period to 305.6 million kronor, or 1.81 kronor per share, from 296.4 million kronor, or 1.76 kronor per share.

As of July 20, US$1 was equivalent to 8.59 Swedish kronor.