Johnson & Johnson (JNJ) Q3 Earnings Beat; Raises FY10 Guidance
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Price: $86.82 -0.45%
EPS Growth %: +5.1%
Financial Fact:
Research and development expense: 1.78B
Today's EPS Names:
ANF, DXLG, FL, More
EPS Growth %: +5.1%
Financial Fact:
Research and development expense: 1.78B
Today's EPS Names:
ANF, DXLG, FL, More
Trade JNJ Now!
Johnson & Johnson (NYSE: JNJ) said Tuesday that its profit improved 2 percent in the third quarter, despite revenue falling slightly.
The health care giant reported third-quarter earnings of $3.42 billion or $1.23 per share, 8 cents better than the analyst estimate of $1.15 per share.
Sales for the company fell almost a percent in the quarter to $14.98 billion, missing the market consensus of $15.18 billion.
Sales of consumer products plunged nearly 11 percent in the quarter for JNJ, as the company has had to recall 13 products in as many months.
"We continue to deliver solid earnings while investing in our future through complementary strategic partnerships and acquisitions," said William C. Weldon, Chairman and Chief Executive Officer. "Our pharmaceutical business has returned to growth this year and we continue to advance our pipeline with promising clinical data in key therapeutic areas. We are pleased with the strong performance of newly launched products in both our pharmaceutical and medical device and diagnostics businesses."
Looking forward, the company raised its full-year earnings forecast to a range of $4.70 to $4.80 per share from a prior view of $4.65 to $4.75 per share, compared to the Street's view of $4.70 per share/
Shares of Johnson & Johnson are down 1.35 percent to $63.00 in premarket trade on Tuesday.
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The health care giant reported third-quarter earnings of $3.42 billion or $1.23 per share, 8 cents better than the analyst estimate of $1.15 per share.
Sales for the company fell almost a percent in the quarter to $14.98 billion, missing the market consensus of $15.18 billion.
Sales of consumer products plunged nearly 11 percent in the quarter for JNJ, as the company has had to recall 13 products in as many months.
"We continue to deliver solid earnings while investing in our future through complementary strategic partnerships and acquisitions," said William C. Weldon, Chairman and Chief Executive Officer. "Our pharmaceutical business has returned to growth this year and we continue to advance our pipeline with promising clinical data in key therapeutic areas. We are pleased with the strong performance of newly launched products in both our pharmaceutical and medical device and diagnostics businesses."
Looking forward, the company raised its full-year earnings forecast to a range of $4.70 to $4.80 per share from a prior view of $4.65 to $4.75 per share, compared to the Street's view of $4.70 per share/
Shares of Johnson & Johnson are down 1.35 percent to $63.00 in premarket trade on Tuesday.
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