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.
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