Johnson & Johnson (NYSE:JNJ) surpassed third-quarter expectations and increased its full-year forecast. The company’s revenue for the third quarter increased by 6.8% to $21.4 billion, surpassing the anticipated $21.04 billion. Additionally, the adjusted EPS experienced a growth of 19.3%, reaching $2.66, which beat the expected $2.51.
CEO Joaquin Duato commented on the robust quarterly performance, emphasizing the company’s forward momentum and promising outlook. Highlighting a keen emphasis on Innovative Medicine and MedTech, he expressed confidence in the firm’s potential to pioneer future medical innovations.
For the upcoming year, Johnson & Johnson has raised its forecasts. They now anticipate adjusted operational sales to grow between 7.2-7.7%, up from their previous estimate of 6.2-7.2%. Furthermore, the projected adjusted EPS has been adjusted to a range of $10.07-$10.13, an improvement from the earlier $10-$10.10 range and surpassing the Street expectation of $10.03.