Johnson & Johnson reported on the results of the 3rd quarter, which exceeded analysts ‘ expectations, returning to growth after a fall in Q2. Good financial news was overshadowed by the message about temporary suspension of the vaccine trials J&J vs COVID-19.
Shares of Johnson & Johnson (JNJ) rallied 1.44% for the last week, on Tuesday closed with a decline of 2.3%, despite the release of better-than-expected wall Street, report for the 3 fin. quarter.
Investors concerned about the potential consequences of the suspension of large-scale studies of vaccine J&J vs COVID-19 for 60 thousand patients from different countries.
Marketinfo.pro on Tuesday wrote that the company created a special Committee, as one patient had revealed “unexplained illness” and now experts find out whether this is a consequence of the introduction of the vaccine. The J&J announced the suspension as an ordinary practice, however, not willing to predict how soon will resume the final study.
For the 3rd quarter ended 30 September, Johnson & Johnson reported on the following:
Earnings per share grew by 4% (compared value) to $2,20, or $0,22 greater than the analyst estimate of $1.98 m. The total amount of quarterly net profit rose to $5.87 billion from $5,67-billion in the same quarter a year ago.
Total revenue grew 2% to $21.1 billion, which is above the average wall Street at $20.2 billion to See the quarterly history of revenue and profit J&J over the past 2 years can link.
Core revenue growth was achieved due to high sales of medical equipment and higher demand for some of the medications J&J.
Pharmaceutical division increased revenues by 5% to $11.4 billion, its Sales of consumer goods rose by 1.3% to $3.5 billion Unit of medical equipment brought $6.1 billion, which is 1.7% more than in the same quarter of last year.
J&J raised its financial forecast for the year: earnings per share range of $7,75 – $7.95 and up range $7,95 – $8.05 and also forecast total sales, from $79,9 billion – $81,4 billion to $82 billion, $82.8 billion
“Our research team global level has worked tirelessly to promote the third phase of trials of our vaccine COVID-19 and the highest standards of transparency, safety and efficiency,” said CEO of J&J Alex Gorsky in a press release.