Johnson & Johnson (JNJ, Financial) beat revenue and earnings estimates for the third quarter. The company reported revenue of $19.65 billion and earnings per share of $1.90.
Revenue of $19.65 billion, increased 10.3% from the comparable quarter and beat estimates by $370 million. Third-quarter revenue contributed to total revenue for the year of $56.3 billion which is up 4.6%. Pharmaceutical sales accounted for 47% of total revenue with a growth rate of 5.3%. By geography, sales in the U.S. accounted for 52% of revenue with a 4.0% growth rate and international sales accounted for 48% with a 5.3% growth rate.
Net earnings of $5.2 billion increased 12.7% from the comparable quarter and resulted in earnings per share of $1.90. At $1.90, earnings per share increased 13.1% from the comparable quarter and beat estimates by 10 cents. Net earnings for the year are now $15.3 billion and earnings per share are $5.56. Net earnings are up 6% from 2016 and earnings per share have increased 8%.
Johnson & Johnson Chief Financial Officer Dominic Caruso discussed the company’s results with CNBC following the earnings release.
Johnson & Johnson closed at $140.79 Tuesday, and the stock gained 3.50%. For the year it has a return of 22.2%. For the one-year period it has gained 19.76%; for the three-year period it has a return of 42.64%.
Disclosure: I do not own any shares of Johnson & Johnson.
