New Johnson & Johnson's Q3 Earnings Beat Street View, Raises Annual Outlook
Portfolio Pulse from Vandana Singh
Johnson & Johnson (JNJ) reported Q3 FY23 adjusted earnings of $2.66 per share, beating the consensus of $2.51. Sales increased 6.8% to $21.35 billion, also beating consensus. The company raised its FY23 adjusted profit outlook to $10.07-$10.13 per share, from the previous $10.00-$10.10. JNJ shares are up 1.35% in premarket trading.
October 17, 2023 | 11:53 am
News sentiment analysis
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NEUTRAL IMPACT
Johnson & Johnson predicted double-digit profit growth after its recent spinoff of consumer health company Kenvue Inc.
Johnson & Johnson's prediction of double-digit profit growth following its spinoff of Kenvue Inc. indicates potential future financial growth for the company. However, the direct impact on Kenvue Inc. is not clear from the news.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Johnson & Johnson reported better than expected Q3 earnings and sales, and raised its FY23 profit outlook. This positive news has led to a 1.35% increase in JNJ shares in premarket trading.
Johnson & Johnson's better than expected Q3 earnings and sales, along with an increased FY23 profit outlook, are positive indicators for the company's financial health. This has led to increased investor confidence, reflected in the 1.35% increase in JNJ shares in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100