Johnson & Johnson Q3 Sales Up 10.7% Year-on-Year

COVID-19 vaccine developed by Janssen, a subsidiary of Johnson & Johnson (J&J)
[Image source=Reuters Yonhap News]

[Asia Economy Reporter Lee Chun-hee] Johnson & Johnson (J&J) announced sales slightly below market expectations and earnings per share (EPS) that exceeded forecasts.

On the 19th (local time), Johnson & Johnson released its third-quarter results for this year. According to Generally Accepted Accounting Principles (GAAP), third-quarter sales were $23.338 billion (approximately 27.5038 trillion KRW), slightly below the market expectation of $23.66 billion. This represents a 10.7% increase compared to $21.082 billion in the same period last year. Net income was $3.667 billion (approximately 4.3126 trillion KRW), up 3.2% from the same period last year.

Non-GAAP net income was $6.968 billion (approximately 8.2118 trillion KRW), and the resulting EPS was $2.60 (approximately 3,064 KRW), exceeding the forecast of $2.36.

Alex Gorsky, Chairman and CEO of Johnson & Johnson, stated, "We showed solid performance across the board in the third quarter," and evaluated it as "a result driven by strong pharmaceutical segment performance exceeding the market, continued recovery in the medical devices sector, and robust growth in the consumer health division."