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Tuesday, October 4, 2022
HomeNewsEconomyJohnson & Johnson Posts Mixed 4Q Earnings

Johnson & Johnson Posts Mixed 4Q Earnings

johnson-and-johnson-baby-powder
johnson-and-johnson-baby-powder

Johnson & Johnson (NYSE:JNJ) baby powder product. (Photo: Reuters)

Johnson & Johnson (NYSE:JNJ) reported fourth-quarter sales fell 0.6 percent, as slower growth in domestic pharmaceutical revenue wasn’t enough to counter weak international revenue.

The health-care giant’s shares were down nearly 3 percent to in recent pre-market trading. However, per-share earnings — excluding one-time charges — actually beat analysts’ expectations. Analysts polled by Thomson Reuters recently expected per-share profit of $6.13.

For 2015, the company forecast adjusted per-share earnings between $6.12 and $6.27.

The New Brunswick, N.J., company’s sales have been fueled by new or newer drugs, including the diabetes drug Invokana, the blood-thinner Xarelto and the psoriasis treatment Stelara. With the revenue, Johnson & Johnson is attempting to revive its consumer and medical-devices businesses.

J&J’s hepatitis C drug, Olysio, also had been contributing to the growth. However, it was expected to tamper down due to growing competition. Olysio sales reached $256 million in the U.S. during last quarter, which was far above analysts expectations, yet still below the $671 million in the 3Q.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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