J&J’s Third-Quarter Profit Beats Estimates on Drug Sales
This article is for subscribers only.
Johnson & Johnson, the world’s biggest maker of health-care products, beat analysts’ earnings estimates in the third quarter on demand for new prescription medicines and medical tools acquired with the Synthes Inc. purchase. The company raised its 2012 forecast.
Net income decreased to $3 billion, or $1.05 a share, from $3.2 billion, or $1.15, a year earlier, New Brunswick, New Jersey-based J&J said today in a statement. Earnings excluding one-time items were $1.25 a share, topping the $1.22 average of 18 analyst estimates compiled by Bloomberg.