Johnson & Johnson (JNJ) Tops Q3 EPS by 4c; Boosts FY15 EPS Outlook
Get Alerts JNJ Hot Sheet
EPS Growth %: -1.9%
Financial Fact:
Research and development expense: 2.18B
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(Updated - October 13, 2015 7:31 AM EDT)
Johnson & Johnson (NYSE: JNJ) reported Q3 EPS of $1.49, $0.04 better than the analyst estimate of $1.45. Revenue for the quarter came in at $17.1 billion versus the consensus estimate of $17.47 billion.
"New and core products drove solid underlying growth for Johnson & Johnson in the quarter," said Alex Gorsky, Chairman and Chief Executive Officer. "Consistent with the plans we've laid out for the year, we're focusing our portfolio and are advancing our innovation agenda to expand our leadership position in key categories while seeking new opportunities for growth. Our dedicated employees are committed to improving healthcare and making a difference in the lives of patients and consumers worldwide."
Buyback:
Earlier Tuesday, J&J announced that its Board of Directors has approved the repurchase of up to $10 billion of the company's common stock.
Repurchases may be made at management's discretion from time to time on the open market or through privately negotiated transactions. The repurchase program has no time limit and may be suspended for periods or discontinued at any time. Any shares acquired will be available for general corporate purposes. The company had approximately 2,767.3 million shares of common stock outstanding as of September 27, 2015.
Guidance:
The Company increased its adjusted earnings guidance for full-year 2015 to $6.15 - $6.20 per share (from $6.10 - $6.20 prior). The Company's guidance excludes the impact of after-tax intangible amortization expense and special items.
*** The Street was looking for FY15 EPS of $6.16.
For earnings history and earnings-related data on Johnson & Johnson (JNJ) click here.
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