Jan 24 (Reuters) – Johnson & Johnson on Tuesday reported full-year earnings that beat Wall Street’s estimates. The company is betting on rising demand for pharmaceuticals and reforms in the medical device industry.
J&J said it expects adjusted earnings of $10.45 to $10.65 per share in 2023, which beat analysts’ average earnings expectation of $10.35.
The group also outperformed fourth-quarter earnings forecasts as growth in pharmaceutical sales helped the company offset the effects of a strengthening dollar.
Excluding one-off items, J&J posted earnings of $2.35 per share, beating the average analyst estimate of $2.23 per share, according to IBES data from Refinitiv.
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