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What will be J&J's oncology drug sales in Q4 2024?
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Johnson & Johnson's Q4 2024 financial report
Story
Johnson & Johnson Q3 EPS $2.42 Beats Estimates, Raises Revenue Forecast
Oct 15, 2024, 10:24 AM
Johnson & Johnson reported stronger-than-expected financial results for the third quarter of 2024, with adjusted earnings per share of $2.42 surpassing analysts' estimates of $2.19, although down 9% year-over-year. The company's revenue increased by 5.2% year-over-year to $22.47 billion, exceeding expectations of $22.16 billion. Net income stood at $2.69 billion, a decrease of 37.5% from the previous year. Pharmaceutical sales were a significant contributor, with medicine revenue totaling $14.58 billion, above the projected $14.12 billion, driven by strong sales of oncology drugs. Despite lower MedTech sales of $7.89 billion compared to the estimated $8.03 billion, the overall performance led Johnson & Johnson to adjust its full-year 2024 guidance. The company raised its revenue forecast to a range of $88.4 billion to $88.8 billion from the previous $88 billion to $88.4 billion and increased its operational sales growth outlook to 5.7–6.2% year-over-year. However, it slightly lowered its adjusted earnings per share guidance to $9.88 to $9.98 from the earlier $9.97 to $10.07.
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