Johnson & Johnson topped earnings estimates.
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Johnson & Johnson stock is gaining after the pharmaceutical giant reported earnings that topped analyst estimates.
Johnson & Johnson (JNJ) reported an adjusted profit of $2.60 a share, beating forecasts for $2.35 a share, on sales of $23.33 billion, missing expectations for $$23.72 billion.
“Our third-quarter results demonstrate solid performance across Johnson & Johnson, driven by robust above-market results in Pharmaceuticals, ongoing recovery in Medical Devices, and strong growth in Consumer Health,” said J&J CEO Alex Gorsky.
Johnson & Johnson also raised its full-year guidance to a range of $9.65 to $9.70 a share, from a range of $9.50 to $9.60.
Johnson & Johnson stock, shrugging off the sales miss, has gained 1.5% to $162.49 at 6:33 a.m. in premarket trading. Shares of J&J have advanced 1.7% this year through Monday’s close, while the S&P 500 has gained 19% and the Dow Jones Industrial Average has risen 15%.
Write to Ben Levisohn at [email protected]
