As per reports, Johnson & Johnson (JNJ) reported Q3 earnings recently, beating Wall Street’s estimates.
- Adjusted earnings of $2.20 per share was reported, higher than the $1.98 per share estimate.
- The company generated $21.08 billion in revenue, better than $20.2 billion expected.
- The company’s pharmaceutical business working on a coronavirus vaccine generated $11.4 billion in revenue.
- Consumer unit reported $3.5 billion in revenue, up 1.3% from a year earlier.
- The medical device unit reported $6.1 billion, a 1.7% increase.
Johnson raised its full-year guidance with adjusted earnings of $7.95 to $8.05 per share from $7.75 to $7.95 per share and sales forecast to a range of $82 billion to $82.8 billion from $79.9 billion to $81.4 billion.
“Our world-class R&D team is working tirelessly to advance the Phase 3 trials of our COVID- 19 vaccine and to uphold the highest standards of transparency, safety and efficacy; while other dedicated teams provide ongoing support to hospitals and patients as they return to sites of care, and ensure patients and consumers have the medicines and products they need,” stated J&J CEO Alex Gorsky in a press release.
Last month J&J started the phase three trial testing of its potential coronavirus vaccine however, J&J confirmed to STAT news that the clinical trial had been temporarily paused due to an unexplained illness in a study participant.
Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services. To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.
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