Johnson & Johnson 3Q profit rises, tops views
Health care giant Johnson & Johnson on Tuesday posted a 30
percent jump in third-quarter profit and beat Wall Street expectations,
mainly because the year-ago results were weighed down by a $745 million
restructuring charge.
Higher sales of consumer products and
medical devices, boosted overseas by the weak dollar, also helped the
New Brunswick, N.J.-based maker of contraceptives, baby care items,
medical devices and prescription drugs. It reported net income of $3.31
billion, or $1.17 per share, up from $2.55 billion, or 88 cents per
share, in the year-ago period.
Revenue climbed 6.3 percent, to
$15.9 billion from $14.97 billion, but was boosted 3.1 percent by
favorable currency exchange rates.