10/15/2019, 12:42 PM (Source: TeleTrader)
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J&J posts GAAP EPS of $1.81 in Q3, up 26% YoY

Johnson & Johnson announced on Tuesday its GAAP earnings per share in the third quarter of 2019 stood at $1.81, 26% higher year-on-year and beating market estimates. The pharmaceutical giant's GAAP revenue in the same period amounted to $20.73 billion, 2% more than the same three months last year. GAAP net earnings were at $4.83 billion, rising 23% from last year's amount of $3.93 billion.

J&J stated its worldwide operational sales grew 1.3%, headed by an increase in pharmaceuticals medical devices sales, which expanded 6.4% and 5.3% respectively. Owing to the good results, the company raised its full-year guidance.

"Our third-quarter results represent strong performance, driven by competitive underlying growth in Pharmaceuticals and Medical Devices, as well as continued optimization in our Consumer business," CEO Alex Gorsky said in the press release. "As we look ahead, we remain confident in the strength of our broad-based business model, which is fueled by our disciplined portfolio management, focus on transformational innovation and dedicated employees around the world who position us for success today and well into the future."

Breaking the News / MD