Johnson & Johnson Beats Earnings Expectations, Misses Other Categories
Johnson & Johnson reported that its Q4 adjusted earnings beat estimates, but sales missed, according to The Wall Street Journal.
However, Johnson & Johnson's sales rose for the fourth quarter. Unfortunately, sales just missed Wall Street's expectations. The increase in sales came from the pharmaceutical and consumer-product divisions, while there was a slight drop in medical-device sales.
Following the earnings report, J&J shares declined 1.1 percent Wednesday morning. Chief Executive Alex Gorsky, stated that the company's performance was strong in 2019 despite the legal challenges the company has faced regarding the safety and marketing of products such as opioids and baby powder.
J&J is expected to finalize last year's agreement regarding a $4 billion payment to resolve its part in the opioid litigation. The company reported net income of $4.01 billion.
Johnson & Johnson reported that its Q4 earnings beat estimates, but sales missed.