Johnson & Johnson (NYSE:JNJ) stock was down today following the release of its earnings report for the fourth quarter of 2017,
During the fourth quarter of the year, Johnson & Johnson reported earnings per share of $1.74. This is an increase from its earnings per share of $1.58 from the same time last year. It also beat out Wall Street’s earnings per share estimate of $1.72 for the period, but couldn’t save JNJ stock today.
Revenue reported by Johnson & Johnson for the fourth quarter of 2017 was $20.20 billion. This is up from its revenue of $18.11 billion that was reported in the fourth quarter of 2016. Revenue for the period also came in above analysts’ estimate of $20.07 billion.
Johnson & Johnson reported net earnings of $4.78 billion for the fourth quarter of the year. The packaged goods manufacturing company reported net earnings of $4.36 billion during the same period of the year prior.
It’s possible that what is pulling JNJ stock down today is the special charge that it suffered during the fourth quarter of 2017. This charge is in connection to the recent passing of the new tax law. The company says the charge for this was $13.60 billion.
Johnson & Johnson also released its outlook for the full year of 2018 in its most recent earnings report. The company is expecting earnings per share for the year to range from $8.00 to $8.20. It is also looking for revenue to come in between $80.60 billion to $81.40 billion. Wall Street is estimating earnings per share of $7.87 on revenue of $80.70 billion for the full year of 2018.
JNJ stock was down 3% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
