J&J Earnings Beat Analyst Estimates on Sales of New Drugs
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Johnson & Johnson, the world’s biggest maker of health-care products, reported first-quarter earnings that beat analysts’ estimates as new drugs and the acquisition of Synthes Inc. boosted sales.
Earnings excluding one-time items were $1.44 a share, topping by 5 cents the average of 11 analysts’ estimates compiled by Bloomberg. Net income declined 11 percent to $3.5 billion, or $1.22 a share, from $3.91 billion, or $1.41, a year earlier, New Brunswick, New Jersey-based J&J said today in a statement. The company reiterated its full-year forecast.