Full year 2021 results:
- EPS: US$2.77 (up from US$0.75 loss in FY 2020).
- Revenue: US$168.9b (down 1.7% from FY 2020).
- Net income: US$19.9b (up US$25.2b from FY 2020).
- Profit margin: 12% (up from net loss in FY 2020). The move to profitability was driven by lower expenses.
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%.Over the next year, revenue is forecast to decline by -7.1% while the industry in the US is not expected to grow.
Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.