4755 | Rakuten Group

Feb 16

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Full year 2022 results:

• JP¥235 loss per share (further deteriorated from JP¥87.62 loss in FY 2021).

• Revenue: JP¥1.93t (up 15% from FY 2021).

• Net loss: JP¥372.9b (loss widened 179% from FY 2021).

Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 30%.

Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Online Retail industry in Japan.

Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.