Johnson & Johnson Raises Outlook, Beats Profit Estimates
15 Octobre 2019 - 1:38PM
Dow Jones News
By Patrick Thomas
Johnson & Johnson raised its financial forecast for the rest
of 2019 as it reported quarterly results ahead of Wall Street
estimates, boosted by gains in its consumer and pharmaceuticals
divisions.
The New Jersey-based health-products company reported a profit
of $4.83 billion, or $1.81 a share, compared with $3.93 billion, or
$1.44 a share, a year ago.
Excluding special items, J&J earned $2.12 a share. Analysts
surveyed by FactSet were expecting earnings of $1.79 a share, or
$2.01 a share on an adjusted basis.
Worldwide sales rose to $20.73 billion from $20.35 billion a
year earlier. Analysts had expected $20.08 billion of revenue in
the quarter.
Sales in its pharmaceuticals division grew by about 5% to $10.88
billion. Sales in its medical-devices business fell 3% to $6.38
billion, while sales of consumer products, which include products
such as Band-Aid bandages and Tylenol medicine, increased nearly 2%
to $3.47 billion.
The company now expects reported sales for the year to be
between $81.8 billion and $82.3 billion, up from its previous
outlook of $80.8 billion to $81.6 billion.
J&J raised its adjusted per-share earnings guidance to
between $8.62 and $8.67 from between $8.53 and $8.63.
Write to Patrick Thomas at Patrick.Thomas@wsj.com
(END) Dow Jones Newswires
October 15, 2019 07:23 ET (11:23 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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