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Prada profit misses consensus by 15.9% in fiscal Q2

Prada SpA said its normalized net income for the fiscal second quarter ended July 31 amounted to 5 euro cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS decreased 16.8% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €131.2 million, a decline of 16.7% from €157.6 million in the prior-year period.

The normalized profit margin declined to 13.5% from 16.7% in the year-earlier period.

Total revenue rose year over year to €973.6 million from €945.8 million, and total operating expenses rose 10.8% on an annual basis to €756.7 million from €683.0 million.

Reported net income decreased 18.0% on an annual basis to €139.5 million, or 5 cents per share, from €170.1 million, or 7 cents per share.