Ryanair Holdings plc said its normalized net income for the fiscal second quarter ended Sept. 30 came to 45 euro cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.

EPS climbed 43.1% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €600.8 million, an increase of 40.5% from €427.4 million in the year-earlier period.

The normalized profit margin increased to 25.2% from 20.9% in the year-earlier period.

Total revenue increased 16.9% year over year to €2.39 billion from €2.04 billion, and total operating expenses climbed 5.6% from the prior-year period to €1.42 billion from €1.34 billion.

Reported net income increased 94.1% year over year to €1.16 billion, or 87 cents per share, from €598.1 million, or 44 cents per share.