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Next in Tech | Episode 66: Connected vehicles in transition inc. profit misses consensus by 96.2% in fiscal Q2, inc. said its normalized net income for the fiscal second quarter ended July 31 came to $4.3 million, compared with a loss of $32.9 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.3% from negative 2.5% in the year-earlier period.

Total revenue climbed 24.0% year over year to $1.63 billion from $1.32 billion, and total operating expenses climbed 19.4% on an annual basis to $1.61 billion from $1.35 billion.

Reported net income came to a loss of $852,000, or a loss of 0 cents per share, compared with a loss of $61.7 million, or a loss of 10 cents per share, in the year-earlier period.