Sign up Australia
Proactive Investors - Run By Investors For Investors

Pharma sales turbocharge Johnson & Johnson’s first-quarter earnings beat

Results exceeded Wall Street expectations for earnings and revenue
A magnifying glass makes the Johnson & Johnson name pop out
Shares rise in pre-market on positive outlook, revenue beat

Johnson & Johnson (NYSE:JNJ) crested Wall Street's first-quarter earnings and revenue expectations on Tuesday, fueled by strong pharmaceutical growth.

The New Brunswick, New Jersey, company reported net income of US$4.37bn, or US$1.60 per share. Adjusted per-share earnings were US$2.06, a nickel better than expected, according to a poll by Zacks Investment Research.

READ: Johnson & Johnson, Imerys ordered to pay additional US$80mln in punitive damages in talc-cancer case

The world’s biggest maker of healthcare products, clocked revenue of US$20bn, topping analysts' projections for US$19.48bn.

Shares of Johnson & Johnson rose nearly 1% to US$133 in pre-market trade.

Johnson & Johnson expects full-year earnings in the range of US$8 to US$8.20 per share, with revenue in the range of US$81bn to US$81.8bn.

"We had a very strong quarter. We carried our momentum from 2017 into 2018, and our pharmaceutical business continued to have stellar results," Johnson & Johnson Chief Financial Officer Dominic Caruso told CNBC.

The firm’s pharma business, especially cancer drug sales in Imbruvica and Darzalex, posted US$9.84bn in revenue, a 15% year-over-year operational jump in the quarter.

View full JNJ profile View Profile

Johnson & Johnson Timeline

Related Articles

April 12 2018
Mission is to make stem cell treatments accessible and affordable to as many people as possible
scientist looking through microscope
April 12 2018
Kumaraguru Raja sees “multiple catalysts” in the year ahead which could put a rocket under the share price
June 07 2018
Ventripoint received key FDA approval to sell the device with the four-chamber heart analysis last month

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use