Johnson & Johnson (JNJ) gains on another beat and raise quarter

October 17, 2023 6:29 AM EDT

Johnson & Johnson (NYSE: JNJ) beat on the top and bottom line in the third quarter and raised its guidance for the full year on both as well. Shares gained 1.5% immediately following the strong results.

Third-quarter revenue rose 6.8% to $21.4 billion, topping the consensus of $21.04 billion. Adjusted EPS rose 19.3% to $2.66, topping the consensus of $2.51.

"Johnson & Johnson delivered strong results and significant pipeline advances in the third quarter, providing a solid foundation for future sustained growth," CEO Joaquin Duato said. "With a sharpened focus on Innovative Medicine and MedTech solutions, Johnson & Johnson is innovating across the spectrum of healthcare and is poised to deliver the medical breakthroughs of tomorrow."

Looking to the full year, the company now sees Adjusted Operational Sales up 7.2-7.7%, versus its prior guidance of 6.2-7.2%. Adjusted EPS is seen at $10.07-$10.13, up from $10-$10.10 and above the consensus of $10.03.

By Staff

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