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Pandora profit misses consensus by 37.0% in Q1


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Pandora profit misses consensus by 37.0% in Q1

Pandora A/S said its first-quarter normalized net income was 4.84 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 7.69 kroner per share.

EPS climbed 12.8% year over year from 4.29 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 598.1 million kroner, an increase of 8.9% from 549.4 million kroner in the year-earlier period.

The normalized profit margin fell to 16.9% from 21.2% in the year-earlier period.

Total revenue climbed 36.8% on an annual basis to 3.55 billion kroner from 2.59 billion kroner, and total operating expenses increased 35.4% on an annual basis to 2.31 billion kroner from 1.71 billion kroner.

Reported net income decreased 45.6% on an annual basis to 383.0 million kroner, or 3.10 kroner per share, from 704.0 million kroner, or 5.50 kroner per share.

As of May 12, US$1 was equivalent to 6.64 Danish kroner.