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Investor AB profit beats consensus in Q1

Investor AB said its normalized net income for the first quarter came to 28.10 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.53 kronor per share.

EPS increased 178.9% year over year from 10.07 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.45 billion kronor, a gain of 179.2% from 7.68 billion kronor in the prior-year period.

The normalized profit margin climbed to 54.2% from 44.6% in the year-earlier period.

Total revenue climbed on an annual basis to 39.61 billion kronor from 17.21 billion kronor, and total operating expenses grew 11.5% to 5.08 billion kronor from 4.56 billion kronor.

Reported net income grew 180.1% from the prior-year period to 34.01 billion kronor, or 44.55 kronor per share, from 12.14 billion kronor, or 15.92 kronor per share.

As of April 21, US$1 was equivalent to 8.65 Swedish kronor.