As per reports, Johnson & Johnson (JNJ) released its first-quarter earnings this week, reporting adjusted earnings of $2.59 per share and revenue of $22.32 billion, beating estimates of $21.98 billion. The company reported $100 million in sales for its COVID-19 vaccine, which was put on hold by U.S. regulators last week. Net earnings increased 7% to $6.20 billion, or $2.32 per share.
J&J’s pharmaceutical business, which developed the single-shot Covid vaccine, generated $12.19 billion in revenue, a 9.6% year-over-year increase driven by the sales of the company’s multiple myeloma drug Darzalex and Stelara, a treatment for Crohn’s disease and plaque psoriasis.
The company’s consumer unit, which makes products such as Neutrogena face wash and Listerine, reported $3.5 billion in revenue, down 2.3% from a year earlier. Its medical device unit generated $6.57 billion, a 7.9% increase.
The company now expects a full-year adjusted profit of $9.42 to $9.57 per share, in comparison to its prior forecast of $9.40 to $9.60 per share. It expects revenue between $90.6 billion and $91.6 billion, compared with its prior forecast of $90.5 billion to $91.7 billion.
Johnson & Johnson also announced an increase in its quarterly dividend to $1.06 per share from $1.01 per share.
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.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.
