NEW BRUNSWICK, N.J. (AP) _ Johnson & Johnson (JNJ) on Tuesday reported fourth-quarter net income of $3.04 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the New Brunswick, New Jersey-based company said it had net income of $1.12. Earnings, adjusted for one-time gains and costs, came to $1.97 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.
The world’s biggest maker of health care products posted revenue of $20.39 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $20.1 billion.
Johnson & Johnson expects full-year earnings in the range of $8.50 to $8.65 per share, with revenue in the range of $80.4 billion to $81.2 billion.
Johnson & Johnson shares have climbed 1 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 6.5 per cent. The stock has fallen 12 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JNJ at https://www.zacks.com/ap/JNJ
The Associated Press