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Oct. 15, 2019, 6:54 a.m. EDT

Johnson & Johnson shares rise after earnings beat estimates, company raises guidance

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By Ciara Linnane

Johnson & Johnson shares /zigman2/quotes/201724570/composite JNJ -0.08% rose 1.6% in premarket trade Tuesday, after the consumer and health care giant beat earnings expectations for the third quarter. New Jersey-based Johnson & Johnson said it had net income of $4.833 billion, or $1.81 a share, in the quarter, up from $3.934 billion, or $1.44 a share, in the year-earlier period. Adjusted per-share earnings excluding amortization expense and special items came to $2.12 a share, ahead of the $2.01 FactSet consensus. Sales rose 1.9% to $20.729 billion from $20.348 billion, also ahead of the FactSet consensus of $20.080 billion. "Our third-quarter results represent strong performance, driven by competitive underlying growth in Pharmaceuticals and Medical Devices, as well as continued optimization in our Consumer business," Chief Executive Alex Gorsky said in a statement. The company is now expecting full-year adjusted operational EPS of $8.84 to $8.89, up from prior guidance of $8.73 to $8.83. It expects adjusted EPS to range from $8.62 to $8.67, up from prior guidance of $8.53 to $8.63. Shares have gained 1.3% in 2019, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.05% has gained 18.3% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.44% has gained 15%.

/zigman2/quotes/201724570/composite
US : U.S.: NYSE
$ 142.37
-0.12 -0.08%
Volume: 4.28M
July 10, 2020 4:00p
P/E Ratio
22.20
Dividend Yield
2.84%
Market Cap
$375.09 billion
Rev. per Employee
$603,509
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/zigman2/quotes/210599714/realtime
US : S&P US
3,185.04
+32.99 +1.05%
Volume: 2.41B
July 10, 2020 5:09p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,075.30
+369.21 +1.44%
Volume: 337.36M
July 10, 2020 5:09p
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