Medical company Johnson & Johnson (J & J) made more profit in the fourth quarter than a year earlier. The American manufacturer of medical equipment and medicines and care products was informed.
J & J was in the spotlight last year because of a talc powder affair. The company appealed against compensation of billions of women who claimed to have contracted ovarian cancer through the use of talcum powder from the company. Afterwards, reports came out that the company had known for years that there was asbestos in the talcum powder. The news was met by the company with harsh words. The share price nevertheless came under considerable pressure.
J & J’s earnings per share came in at $ 1.97 last quarter. That is more than average analysts predicted and a growth of more than 13 percent compared to a year earlier. Including charges, the result was $ 1.12 per share, or just over 3 billion dollars. J & J put a loss of 3.99 dollars in the books a year earlier, excluding charges. That amounts to a negative result of more than 10.7 billion dollars.
For the current year, J & J is counting on sales in a bandwidth of 80.4 billion dollars to 81.2 billion dollars. The prognosis for earnings per share is $ 8.50 to $ 8.65.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.