Johnson & Johnson reports 27% rise in Q3 profit

10/18, 1:00 PM (Source: TeleTrader.com)

Johnson & Johnson released third-quarter results on Tuesday, saying its sales grew 4.2% on yearly basis to $17.8 billion. The biggest increase of 6.7% was recorded in Domestic sales.

The American multinational company’s net earnings and diluted earnings per share both increased by 27% year on year and stood at $4.3 billion and $1.53 respectively.

“Our third-quarter results reflect the success of our new product launches and the strength of our core businesses, driven by strong growth in our Pharmaceuticals business,” Alex Gorsky, chairman and chief executive officer of the company.

Johnson and Johnson maintained its sales guidance for the full year 2016 of $71.5 billion to $72.2 billion.

Teletrader Newsroomroom / DN