NEW BRUNSWICK, NEW YORK (AP) – Big jumps in medical device sales helped Johnson & Johnson grow first-quarter profit by almost 7%, beating Wall Street forecasts. The health giant raised its financial forecasts for 2021.
The only weak point in J & J’s results on Tuesday was the small drop in consumer health sales, which increased in the first quarter of 2020 when nervous consumers received over-the-counter medications as the coronavirus epidemic began and blockades began.
At the same time, the world’s largest maker of health products is waiting for regulators to launch the COVID-19 vaccine. The single-dose shot, which is considered very important for vaccinating people in remote areas and poor countries, is being scrutinized because of the small amount of unusual blood tissue in the recipients.
Johnson & Johnson reported net income for the first quarter of $ 6.2 billion, or $ 2.32 per share, up 6.9 percent from $ 5.8 billion, or $ 2.17 per share. years ago.
Adjusted earnings were $ 6.92 billion, or $ 2.59 per share. The average rating of the seven analysts surveyed by Zacks Investment Research was $ 2.31 per share.
The company, based in New Brunswick, New Jersey, reported revenue of $ 22.32 billion, which is more than the projected $ 21.82 billion on Wall Street, according to a Zacks survey.
J&J said it now expects year-over-year earnings per share of $ 9.42 to $ 9.57, up from $ 9.40 to $ 9.60 in January. It forecasts revenues in the range of $ 90.6 billion to $ 91.6 billion, from January forecasts of $ 90.5 billion to $ 91.7 billion.
Shares of Son Onson և Shares of Son Onson have risen more than 3% since the beginning of the year. Shares have risen 7% in the last 12 months.
Shares fell slightly before the opening bell on Tuesday, as markets fell.
Part of this story was created by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access the Zacks Stock Report on JNJ: https://www.zacks.com/ap/JNJ