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Johnson & Johnson Reports Strong Fourth Quarter Results

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Johnson & Johnson announced on Tuesday that it had achieved impressive financial results for the fourth quarter. The company reported net earnings of $4.132 billion, or $1.70 per share, surpassing the previous year’s earnings of $3.227 billion, or $1.22 per share. Adjusted per-share earnings were $2.29, slightly exceeding the FactSet consensus estimate of $2.28.

In addition to the solid earnings performance, Johnson & Johnson’s sales also showed significant growth. Sales for the quarter reached $21.395 billion compared to $19.939 billion during the same period last year, surpassing the FactSet consensus estimate of $21.022 billion.

The company’s innovative medicine business, which includes the production of COVID vaccines, experienced a notable increase in sales, rising by 4.8% to $13.722 billion. The MedTech segment also delivered strong results, with a sales increase of 13.3% to $7.673 billion.

Looking ahead, Johnson & Johnson provided financial guidance for 2024. The company anticipates adjusted earnings per share between $10.55 and $10.75, alongside projected sales ranging from $87.8 billion to $88.6 billion. The FactSet consensus estimates stand at an earnings per share of $10.68 and sales of $87.9 billion.

While the stock initially dipped 0.9% in premarket trading, it has demonstrated overall growth of 3.8% over the past 12 months, outperforming the S&P 500’s increase of 20.7%.

Johnson & Johnson’s strong quarterly performance attests to its ability to deliver impressive financial results even amidst challenging market conditions. As one of the leading players in the healthcare industry, the company’s continued success is a testament to its innovative products and strategic business approach.

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