Johnson&Johnson's official website recently released a third quarter performance that exceeded expectations in adjusted profits and revenue. Data shows that the reported sales for the third quarter of the 2023 fiscal year increased by 6.8% year-on-year, reaching $21.4 billion, higher than the expected $21.04 billion. Net profit was $4.31 billion, with earnings per share (EPS) of $1.69, an increase of 4.3%. After the financial report was released, Johnson&Johnson rose 1.54% before trading.
From a specific business division perspective, the pharmaceutical business revenue reached 13.89 billion US dollars, a year-on-year increase of over 5%. The revenue of the medical equipment department was 7.458 billion US dollars, a year-on-year increase of 10%.
Thanks to significant sales growth in the company's pharmaceutical and medical equipment departments, Johnson&Johnson has raised its full year forecast. It is expected that the annual sales revenue in 2023 will increase from 83.2-84 billion US dollars to 83.6-84 billion US dollars. It is reported that this is the first quarterly performance of Johnson&Johnson's completion of its spin off with consumer health subsidiary Kenvue (KVUE. US) in August. After the split, Johnson&Johnson once lowered its annual sales and profit guidelines.
Johnson&Johnson also expects adjusted earnings per share to be $10.07 to $10.13, higher than the previously expected $10 to $10.10.
Wen/Guangzhou Daily · New Flower City Reporter Tu Duanyu