The company’s revenue rose 11% year over year in the third quarter to $23.34 billion. Its results are closely watched in the healthcare sector because its products span multiple categories.
Medical-device sales grew 7.6% amid a higher level of surgical procedures. Pharmaceutical sales were up 14%, the result of more prescriptions of drugs for multiple myeloma, inflammatory diseases and other conditions. Johnson & Johnson’s sales of consumer products such as Tylenol, Motrin and skin-care lines rose 5.7%. Those sales trends exclude acquisitions and divestitures.
Earnings were $1.37 a share—up from $1.33 a year ago—or $2.60 a share after stripping out one-time items. Wall Street analysts had been forecasting sales of $23.64 billion and adjusted earnings of $2.35 a share, according to FactSet.Higher Sales Across Divisions Lift Johnson & Johnson as Healthcare Sector Recovers – WSJ