J&J expects higher-than-expected 2023 earnings driven by pharmaceutical division

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.

The original message in English is available on the code: (Translated by Radosław Jazga, Manas Mishra and Bhanvi Satija in Bangalore)

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