Johnson & Johnson 1Q Sales, Profit Improve as Pandemic Impacts Abate
20 April 2021 - 9:24PM
Dow Jones News
By Matt Grossman
Johnson & Johnson on Tuesday logged growing revenue and
profit figures for the first quarter, citing year-over-year
comparisons showing a stabilizing business environment compared
with the early stages of the Covid-19 pandemic.
The New Brunswick, N.J.-based pharmaceutical and healthcare
company logged net earnings of $2.32 a share, compared with $2.17 a
share in the first quarter of 2020. Total net earnings grew to $6.2
billion, from $5.8 billion a year ago.
Accounting for one-time items, the company's adjusted earnings
were $2.59 a share. Analysts surveyed by FactSet had forecast
adjusted earnings of $2.34 a share.
Revenue rose to $22.32 billion, from $20.69 billion in the
prior-year quarter. Analysts were expecting revenue of $21.98
billion.
Pharmaceutical sales, Johnson & Johnson's largest revenue
contributor, grew 9.6% to $12.2 billion year over year.
Medical-device sales increased 11% year over year to $6.58 billion.
Consumer-health sales ticked down 2.3% to $3.54 billion.
The company attributed the segment sales trends to normalizing
conditions compared with the effects of the coronavirus pandemic as
it was taking hold during the first months of 2020.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
April 20, 2021 07:09 ET (11:09 GMT)
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