Second quarter 2022 results:
- EPS: US$2.50 (up from US$2.05 in 2Q 2021).
- Revenue: US$51.7b (up 20% from 2Q 2021).
- Net income: US$18.8b (up 21% from 2Q 2021).
- Profit margin: 36% (in line with 2Q 2021).
Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%.Over the next year, revenue is forecast to grow 14%, compared to a 195% growth forecast for the industry in the US.
Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.