Johnson & Johnson reported revenue of $22.48 billion in the fourth quarter, more than expected $21.67 billion, according to the company’s press release. The company reported earnings per share of $1.86, more than the expected $1.82 per share.
- J&J’s pharmaceutical business, which is developing the coronavirus vaccine, generated a revenue of $12.26 billion, a gain of 16% year over year on increased demand for prescription drugs.
- The company’s consumer unit generated $3.6 billion in revenue, up 1.4% year over year.
- Revenue from J&J’s medical device unit was $6.58 billion, a 0.7% decline.
- J&J forecasts an adjusted profit of between $9.40 and $9.60 per share in 2021 and sales of between $90.5 billion to $91.7 billion.
- J&J is expected to release data from the phase three trial testing of its Covid-19 vaccine as early as this week.
- Investors are also waiting for the federal authorization of J&J’s vaccine by early next month.
Johnson & Johnson stock is currently gaining. JNJ: NYSE is up 1.94% on premarket.
