By Matt Grossman
Johnson & Johnson Tuesday logged a larger profit in its third quarter, lifted by higher sales in its pharmaceutical, medical-device and consumer-health divisions.
The New Brunswick, N.J.-based pharmaceutical company posted earnings of $1.37 a share, up from $1.33 a share 12 months ago. Net earnings were $3.67 billion, up from $3.55 billion a year earlier.
Stripping out one-time items, the company's adjusted earnings were $2.60 a share. Analysts polled by FactSet had been forecasting adjusted earnings of $2.35 a share.
Sales rose 10.7% to $23.34 billion. Analysts were expecting sales of $23.64 billion.
Pharmaceutical sales rose 13.8%, while medical-device sales were 7.6% higher year over year. Consumer-health sales increased by 5.7%. The segment sales trends exclude the effects of acquisitions and divestitures.
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(END) Dow Jones Newswires
October 19, 2021 07:00 ET (11:00 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.