Johnson & Johnson Beats Street 1Q Forecasts
Johnson & Johnson on Tuesday reported first-quarter profit of $4.32 billion.
The New Brunswick, New Jersey-based company said it had profit of $1.53 per share. Earnings, adjusted for one-time gains and costs, came to $1.56 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The world’s biggest maker of health-care products posted revenue of $17.37 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks had expected $17.31 billion.
Johnson & Johnson expects full-year earnings in the range of $6.04 to $6.19 per share.
Johnson & Johnson shares have declined nearly 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 2 percent. The stock has risen roughly 4 percent in the last 12 months.
This article appeared in print in edition of Hamodia.
To Read The Full Story
Are you already a subscriber?
Click "Sign In" to log in!
Become a Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Become a Print + Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Renew Print + Web Subscription
Click “Renew Subscription” below to begin the process of renewing your subscription.
