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MediaTek profit misses consensus by 24.9% in Q2

MediaTek Inc. said its second-quarter normalized net income came to NT$3.10 per share, compared with the S&P Capital IQ consensus estimate of NT$4.13 per share.

In the prior-year period, the per-share result came in at a profit of NT$3.09.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$4.85 billion, compared with NT$4.85 billion in the prior-year period.

The normalized profit margin fell to 6.7% from 10.3% in the year-earlier period.

Total revenue increased 54.2% year over year to NT$72.53 billion from NT$47.04 billion, and total operating expenses climbed 62.9% from the prior-year period to NT$65.46 billion from NT$40.18 billion.

Reported net income grew year over year to NT$6.49 billion, or NT$4.15 per share, from NT$6.34 billion, or NT$4.05 per share.

As of Aug. 15, US$1 was equivalent to NT$31.33.