4/17/2018, 12:48 PM (Source: TeleTrader)
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J&J posts revenue of $20B in Q1

Pharmaceutical and consumer packaged goods giant Johnson & Johnson reported on Tuesday its revenue for the first quarter of the fiscal year 2018 stood at $20 billion, surpassing estimates of $19.4 billion, the company said in a corporate release. Sales increased 12.6% compared to the first quarter of 2017.

Diluted earnings per share were $1.60. International sales spiked 19.9%, while domestic sales jumped 6.1%. The company's shares rose 0.83% in pre-market trading.

"The U.S. tax legislation passed late last year is creating the opportunity for us to invest more than $30 billion in R&D and capital investments in the U.S. over the next four years, which is an increase of 15%," Chairman and Chief Executive Officer Alex Gorsky said.

Breaking the News / BM