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Tuesday, January 31, 2023

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Johnson & Johnson earns more than expected in Q4

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J&J’s revenue fell 4.4% year-on-year in the last quarter (Image: REUTERS/Dado Ruvic/Illustration)

THE Johnson & Johnson (J&J) had a net profit of US$ 3.52 billion in the fourth quarter of 2022, an amount 25.7% lower than the gain of US$ 4.74 billion recorded in the same period of the previous year, according to a balance sheet published this Tuesday.

With adjustments, the American multinational in the pharmaceutical sector secured earnings per share of US$ 2.35 between October and December, surpassing the consensus of analysts consulted by FactSet, of US$ 2.23.

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J&J’s revenue fell 4.4% year-on-year in the last quarter to $23.7 billion, slightly below the FactSet consensus of $23.9 billion.

In the wake of the balance, the company’s action jumped 2.5% in pre-market business in New York at 8:47 am (from Brasilia).

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J&J also revealed that it expects to earn adjusted earnings per share of $10.45 to $10.65 in 2023, and generate revenues of $96.9 billion to $97.9 billion.

Source: Moneytimes

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