Second quarter 2022 results:
- EPS: US$0.73 (down from US$1.04 in 2Q 2021).
- Revenue: US$22.2b (down 4.0% from 2Q 2021).
- Net income: US$5.93b (down 34% from 2Q 2021).
- Profit margin: 27% (down from 39% in 2Q 2021). The decrease in margin was primarily driven by higher expenses.

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.0%.
Over the next year, revenue is forecast to grow 7.6%, compared to a 14% growth forecast for the industry in the US.
Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.