Johnson & Johnson third-quarter earnings and revenue results beatWall Street’s predictions. Here’s how Johnson & Johnson reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $2.05, adjusted, vs. $2.03 expected
- Revenue: $20.3 billion vs. $20.05 billion expected
Pharmaceuticals, specifically cancer drugs, have fueled J&J’s growth while its consumer and medical device businesses have lagged. J&J recently completed the divestiture of its LifeScan diabetes business to Platinum Equity for $2.1 billion. It also relaunched its iconic baby care line in August after facing a 20 percent sales decline since 2011.
Earlier this month, J&J inked an agreement with Arrowhead Pharmaceuticals to develop its gene-silencing Hepatitis B treatment and take a minority stake in the company. The deal could potentially be worth more than $3.7 billion.
