Second quarter 2022 earnings: EPS and revenues exceed analyst expectations
Second quarter 2022 results:
- EPS: US$1.87 (down from US$2.08 in 2Q 2021).
- Revenue: US$1.55b (up 10% from 2Q 2021).
- Net income: US$307.0m (down 10% from 2Q 2021).
- Profit margin: 20% (down from 24% in 2Q 2021). The decrease in margin was driven by higher expenses.
Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.4%.
Over the next year, revenue is forecast to decline by 38% while the industry in the US is not expected to grow.
Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 21% per year.
