Johnson & Johnson tops Street 3Q forecasts

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New Brunswick | October 18, 2016 5:55 PM

Johnson & Johnson (JNJ) on Tuesday reported third-quarter earnings of $4.27 billion.

Johnson & Johnson expects full-year earnings in the range of $6.68 to $6.73 per share, with revenue in the range of $71.5 billion to $72.2 billion. (Reuters)Johnson & Johnson expects full-year earnings in the range of $6.68 to $6.73 per share, with revenue in the range of $71.5 billion to $72.2 billion. (Reuters)

Johnson & Johnson (JNJ) on Tuesday reported third-quarter earnings of $4.27 billion.

The New Brunswick, New Jersey-based company said it had profit of $1.53 per share. Earnings, adjusted for amortization costs and non-recurring costs, were $1.68 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The world’s biggest maker of health care products posted revenue of $17.82 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $17.72 billion.

Johnson & Johnson expects full-year earnings in the range of $6.68 to $6.73 per share, with revenue in the range of $71.5 billion to $72.2 billion.

Johnson & Johnson shares have climbed 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 4 percent. The stock has climbed 22 percent in the last 12 months.

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