J&J increases net profit 2.7-fold in 4th quarter


January 26, Fineko/abc.az. The net profit of Johnson & Johnson (J&J), the world's largest manufacturer of health products, has increased 2.7 times in the 4th quarter of 2021 up to $4.736 bn, or $1.77 per share, compared with $1.738 bn, or $0.65 per share, for the same period of 2020.

According to J&J, quarterly revenue increased by 10.4% up to $24.804 bn against $22.475 bn a year earlier.

The revenue of the division that produces consumer medical products grew by 1.1% up to $2.657 bn. Revenue in the field of pharmaceutical products increased by 16.5% up to $14.29 bn, in the segment of medical devices by 4.1% up to $6.859 bn.

J&J improved forecasts of key financial indicators for 2021. According to the new forecast, the adjusted profit of the company will be $10.4-10.6 per share (previous forecast - $9.77-9.82 per share), revenue including income from the sale of vaccines against COVID-19 - $98.9-100.4 bn (previous forecast - $92.8-93.3 bn).

Analysts forecasted company's annual revenue of $98 bn, and adjusted earnings - $10.35 per share.