Johnson & Johnson reported quarterly earnings and revenue that beat analysts’ expectations and gave its financial forecast for this year.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.97, adjusted, vs. $1.95 expected
- Revenue: $20.4 billion vs. $20.2 billion expected
J&J forecast 2019 earnings of between $8.50 and $8.65 per share and revenue in the range of $80.4 billion to $81.2 billion. Analysts previously said they expected earnings $8.60 per share and $82.69 billion in revenue, according to Refinitiv.
J&J’s usually steady stock has been under pressure recently. A December report from Reuters said J&J knew for decades its talc baby powder contained asbestos. The company has repeatedly denied any wrongdoing and stands behind its namesake baby powder.
Since Reuters published its report, J&J shares have fallen by about 9.5 percent. Analysts called the selloff overdone, saying any litigation risk would cost less than the billions of dollars J&J lost in market cap.