Johnson & Johnson Q1 Earnings Top Wall Street Estimates On Strong Medical Devices Sales, Drugmaker Boosts Annual Outlook
Portfolio Pulse from Vandana Singh
Johnson & Johnson (NYSE:JNJ) reported Q1 earnings with an adjusted EPS of $2.71, surpassing Wall Street estimates and showing a 12.4% increase year over year. Sales rose to $21.38 billion, with significant contributions from its medical devices sector, leading to a net profit of $5.35 billion compared to a net loss the previous year. The company also raised its quarterly dividend and updated its fiscal year 2024 sales and EPS guidance upwards.
April 16, 2024 | 1:29 pm
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Johnson & Johnson reported higher than expected Q1 earnings, raised its dividend, and provided an optimistic FY2024 guidance, indicating strong performance especially in its medical devices sector.
The positive earnings report, dividend increase, and upward revision of FY2024 guidance reflect strong financial health and operational success, particularly in the medical devices sector. These factors are likely to instill investor confidence and could lead to a short-term positive impact on JNJ's stock price, despite the premarket session dip.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100