Johnson & Johnson (NYSE:JNJ) stock was up today on positive earnings for the third quarter of 2017.
Johnson & Johnson’s earnings per share for the third quarter of the year was $1.90. This is a 13% increase over its earnings per share of $1.68 from the third quarter of 2016. It was also a plus for JNJ stock by beating Wall Street’s earnings per share estimate of $1.80.
Revenue reported by Johnson & Johnson in the third quarter of 2017 was $19.65 billion. The maker of consumer goods reported revenue of $17.82 billion during the same period of the year prior. Analysts were looking for JNJ to report revenue of $19.28 billion in the quarter.
JNJ stock also likely got a boost today from news of an increase in the company’s full-year-2017 forecast. It is now expecting earnings per share for the year to range from $7.25 to $7.30 on revenue ranging from $76.1 billion to $76.5 billion. Wall Street is looking for Johnson & Johnson to report earnings per share of $7.18 on revenue of $75.83 billion for the year.
“Johnson & Johnson accelerated growth in the third quarter,” Alex Gorsky, JNJ Chairman and CEO, said in a statement. “This is driven by the strong performance of our Pharmaceutical business, and augmented by Actelion and other recent acquisitions across the enterprise that will continue to fuel growth.”
Johnson & Johnson reported net earnings of $3.76 billion in its third quarter of the year. This is down from its net earnings of $4.27 billion that was reported in the same quarter of the previous year.
JNJ stock was up 2% as of Tuesday afternoon and is 21% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
