Second quarter 2022 results:
- EPS: US$1.81 (up from US$0.20 in 2Q 2021).
- Revenue: US$4.83b (up 23% from 2Q 2021).
- Net income: US$564.0m (up US$502.0m from 2Q 2021).
- Profit margin: 12% (up from 1.6% in 2Q 2021). The increase in margin was driven by higher revenue.
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.0%.Over the next year, revenue is forecast to grow 5.7%, compared to a 3.3% growth forecast for the industry in the US.
Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.