Nestlé SA said its second-half normalized net income came to CHF1.45 per share, compared with the S&P Capital IQ consensus estimate of CHF1.77 per share.
EPS declined 49.8% year over year from CHF2.88.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF4.51 billion, a decline of 51.1% from CHF9.22 billion in the year-earlier period.
Total revenue decreased 5.5% on an annual basis to CHF46.11 billion from CHF48.78 billion, and total operating expenses fell on an annual basis to CHF38.99 billion from CHF40.95 billion.
Reported net income declined 53.7% on an annual basis to CHF4.55 billion, or CHF1.46 per share, from CHF9.81 billion, or CHF3.07 per share.
For the year, the company's normalized net income totaled CHF2.73 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of CHF3.29.
EPS declined 34.6% from CHF4.18 in the prior year.
Normalized net income was CHF8.58 billion, a fall of 35.9% from CHF13.37 billion in the prior year.
Full-year total revenue decreased from the prior-year period to CHF89.08 billion from CHF91.86 billion, and total operating expenses declined on an annual basis to CHF75.26 billion from CHF77.31 billion.
The company said reported net income decreased 37.3% year over year to CHF9.06 billion, or CHF2.89 per share, in the full year, from CHF14.45 billion, or CHF4.52 per share.