Revenues Growth: The company experienced a substantial increase in revenues over the three-year period, with revenues rising from $182,527 million in 2020 to $282,836 million in 2022, marking a compound annual growth rate.
Expense Trends: Total costs and expenses increased consistently each year, from $141,303 million in 2020 to $207,994 million in 2022. Notably, the cost of revenues and research and development experienced significant increases, highlighting growing operational and innovation investments.
Income and Profitability Fluctuations: Income from operations peaked in 2021 at $78,714 million but declined to $74,842 million in 2022. Net income also demonstrated volatility, peaking at $76,033 million in 2021 before decreasing to $59,972 million in 2022.
Other Income/Expense Variability: The other income (expense) category varied notably across the three years, from $6,858 million in 2020 to a negative figure of $(3,514) million in 2022, which impacted overall income before tax.
Earnings Per Share: Basic and diluted net income per share showed similar trends, with both peaking in 2021 before declining in 2022. The basic net income per share was $5.69 in 2021, dropping to $4.59 in 2022, reflecting the changes in net income over the period.