Covid and Johnson & Johnson JNJ earnings Q3 2021

0

Johnson & Johnson said it sold $502 million of its Covid-19 vaccine in the third quarter, in its earnings report Tuesday that beat Wall Street’s profit expectations.

Here’s how J&J did compared with what Wall Street expected, according to average estimates compiled by Refinitiv:

  • Adjusted EPS: $2.60 per share vs $2.35 expected.
  • Revenue: $23.34 billion vs $23.72 billion expected.

J&J increased its full-year earnings guidance to between $9.77 per share and $9.82 per share, from its previous estimates of $9.60 to $9.70 per share. It expects sales to range from $94.1 billion to $94.6 billion, up from previous guidance of $93.8 billion to $94.6 billion.

At the same time, the company maintained its Covid vaccine sales outlook for the year at $2.5 billion.

Shares of J&J jumped more than 1% in premarket trading.

J&J’s report came under a shadow of criticism about how it handled the opioid crisis and the development of a comparatively less-effective Covid vaccine under outgoing CEO Alex Gorsky.

In a press release, Gorsky said the financial 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.”

This is a developing story. Please check back for updates.

Correction: This story was updated to reflect that J&J missed revenue estimates.

Source link

Denial of responsibility! NewsConcerns is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@newsconcerns.com. The content will be deleted within 24 hours.

Leave a comment