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J&J shares down 1.3% premarket after Q4 revenue lags consensus

Johnson & Johnson shares slid 1.3% premarket Tuesday, after the consumer goods, pharmaceutical and medical device maker posted weaker-than-expected revenue for the fourth quarter. The company posted net income of $4.736 billion, or $1.77 a share, for the quarter, up from $1.738 billion, or 65 cents a share, in the year-earlier period. Adjusted per-share earnings came to $2.13, a penny ahead of the $2.12 FactSet consensus. Sales climbed 10.4% to $24.804 billion from $22.475 billion a year ago, below the $25.284 billion FactSet consensus. Consumer health sales rose 1.1% to $2.657 billion, pharma sales rose 16.5% to $14.288 billion and medical devices rose 4.1% to $6.859 billion. The pharmaceutical sales number includes sales of the company’s one-shot COVID-19 vaccine, although it did not offer a breakdown of that result. For the full-year, the company is now expecting sales including COVID-19 to range from $98.9 billion to $100.4 billion and for adjusted EPS to range from $10.40 to $10.60. The FactSet consensus is for sales of $98.0 billion and EPS of $10.35. Shares have fallen 1.8% in the last 12 months, while the Dow Jones Industrial Average has gained 11% and the S&P 500 has gained 14%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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