Second quarter 2021 earnings released: EPS US$0.45 (vs US$0.026 loss in 2Q 2020)
The company reported a strong second quarter result with improved earnings, revenues and profit margins.Second quarter 2021 results:
- Revenue: US$4.68b (up 143% from 2Q 2020).
- Net income: US$204.0m (up US$215.5m from 2Q 2020).
- Profit margin: 4.4% (up from net loss in 2Q 2020).
Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth.
Consensus forecasts updated
The consensus outlook for 2021 has been updated.
- 2021 revenue forecast fell from US$20.4b to US$19.2b.
- EPS estimate rose from US$0.28 to US$0.77.
- Net income forecast to shrink 23% next year vs 13% growth forecast for IT industry in the US .
- Consensus price target up from US$274 to US$291.
- Share price rose 2.7% to US$280 over the past week.