First quarter 2022 earnings: EPS exceeds analyst expectations
First quarter 2022 results:
- EPS: US$1.99 (up from US$0.83 in 1Q 2021).
- Revenue: US$18.4b (down 6.7% from 1Q 2021).
- Net income: US$8.11b (up 141% from 1Q 2021).
- Profit margin: 44% (up from 17% in 1Q 2021).
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 176%.
Over the next year, revenue is expected to shrink by 1.9% compared to a 21% growth forecast for the industry in the US.
Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.