J&J’s Q1 2024 sales rise 2.3% to $21.4 billion
16 Abril 2024 - 10:52AM
IH Market News
Johnson & Johnson (NYSE:JNJ) reported a robust start to
fiscal 2024, with a 2.3% increase in first-quarter sales, reaching
$21.4 billion. This financial uptick comes after the company’s net
income hit $5.3 billion over the same period.
In a significant turnaround, J&J’s earnings per share (EPS)
surged from a loss of $0.19 last year to a substantial gain of
$2.20 this quarter. Further bolstering investor confidence, J&J
has revised its full-year 2024 guidance upwards. The company now
projects its operational sales will range between $88.7 billion and
$89.1 billion, with adjusted estimated reported sales anticipated
to be between $88.0 billion and $88.4 billion. The adjusted
forecast reflects a new midpoint of $88.2 billion for reported
sales, illustrating J&J’s optimistic outlook on its operational
performance and earnings growth.
Joaquin Duato, Chairman and Chief Executive Officer, highlighted
the company’s strategic advancements, stating, “Johnson &
Johnson’s solid first quarter performance reflects our sharpened
focus and the progress in our portfolio and pipeline. Our impact
across the full spectrum of healthcare is unique in our industry,
and the milestones achieved this quarter reinforce our position as
an innovation powerhouse.”
Despite these positive developments, J&J shares experienced
a decline of 1.40% in premarket trading in New York, illustrating
the complex dynamics that can influence investor sentiment and
market performance.
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