Johnson & Johnson's net earnings fall 14% in the first quarter, exceeds revenue projections
Posted on April 17, 2019 by Medtech[y] Staff
Johnson & Johnson released Q1 2019 earnings yesterday coming in with $20.02 billion in revenue compared to the street's projection of $19.61 billion. Revenue grew 5.5% compared to the same period last year. While revenue met projections, the company's net earnings and earnings per share dropped 14.2% and 13.1% compared to the same period last year.
Johnson & Johnson Q1 Revenue Breakdown:
- Pharmaceutical Sales - $10.2 Billion
- Medical Device - $6.5 Billion
- Consumer - $3.3 Billion
In 2019, Johnson & Johnson's stock has risen 8% despite the 13,000 lawsuits related to safety concerns of their their baby powder and Shower to Shower which was sold off in 2012.
While the company is still projecting sales to be in the range of $80.4 billion to $81.2 billion, they did narrow their full-year earnings forecast to the range of $8.53 to $8.63
Two bright spots from the quarter were the recent acquisition of Auris Health and the company's new nasal spray, Spravato, which was FDA approved in March to treat depression.
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