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MediaTek profit misses consensus by 33.7% in Q3

MediaTek Inc. said its third-quarter normalized net income came to NT$3.30 per share, compared with the S&P Capital IQ consensus estimate of NT$4.98 per share.

EPS fell 43.6% year over year from NT$5.85.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$5.16 billion, a decline of 43.9% from NT$9.20 billion in the year-earlier period.

The normalized profit margin declined to 9.1% from 16.0% in the year-earlier period.

Total revenue came to NT$56.96 billion, compared with NT$57.47 billion in the year-earlier period, and total operating expenses rose 13.0% on an annual basis to NT$49.34 billion from NT$43.68 billion.

Reported net income fell 40.2% on an annual basis to NT$7.95 billion, or NT$5.08 per share, from NT$13.30 billion, or NT$8.46 per share.

As of Nov. 13, US$1 was equivalent to NT$32.86.