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MediaTek profit misses consensus by 15.6% in Q3

MediaTek Inc. said its normalized net income for the third quarter was NT$2.30 per share, compared with the S&P Capital IQ consensus estimate of NT$2.72 per share.

EPS decreased 32.8% year over year from NT$3.42.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$3.61 billion, a decline of 32.6% from NT$5.35 billion in the year-earlier period.

The normalized profit margin fell to 5.7% from 6.8% in the year-earlier period.

Total revenue fell 18.8% on an annual basis to NT$63.65 billion from NT$78.40 billion, and total operating expenses decreased 17.1% on an annual basis to NT$58.69 billion from NT$70.78 billion.

Reported net income decreased 34.5% from the prior-year period to NT$5.11 billion, or NT$3.25 per share, from NT$7.79 billion, or NT$4.98 per share.

As of Nov. 14, US$1 was equivalent to NT$30.16.