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

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
1542204301_heart.jpg
November 15 2018
The goal of the program is to extend the visualization extracted from 2D ultrasound images and visualize 4D images
CBD oil
November 16 2018
The company’s technology creates nano-scale emulsion mixtures that allow fluids to mix that normally don’t mix, such as CBD oil and water

© 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