First quarter 2022 earnings: EPS exceeds analyst expectations
First quarter 2022 results:
- EPS: US$0.81 (down from US$0.87 in 1Q 2021).
- Revenue: US$23.2b (down 6.0% from 1Q 2021).
- Net income: US$6.60b (down 13% from 1Q 2021).
- Profit margin: 28% (down from 31% in 1Q 2021). The decrease in margin was driven by lower revenue.
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.5%.
Over the next year, revenue is forecast to grow 4.7%, compared to a 11% growth forecast for the industry in the US.
Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year.