OCBC: First quarter 2022 earnings – EPS and revenues exceed analyst expectations

First quarter 2022 results:

• EPS: S$0.30.
• Revenue: S$2.60b (down 5.6% from 1Q 2021).
• Net income: S$1.36b (down 9.7% from 1Q 2021).
• Profit margin: 52% (down from 55% in 1Q 2021).

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 368%.

Over the next year, revenue is forecast to grow 20%, compared to a 29% growth forecast for the industry in Singapore.