Johnson & Johnson (NYSE:JNJ) posted third-quarter revenue and earnings that beat Wall Street estimates, driven by strength in its pharmaceuticals and medical devices businesses.
The healthcare giant reported revenue of $23.99 billion for the quarter, up 6.8% from a year ago and slightly above analysts’ expectations of $23.74 billion. Adjusted earnings per share came in at $2.80, compared with the $2.78 expected.
By business segment, Innovative Medicine sales rose 6.8% to $15.56 billion, while MedTech revenue increased 6.8% to $8.43 billion. Adjusted net earnings climbed 15.7% to $6.8 billion.
US sales grew 6.2% to $13.71 billion, while international sales increased 7.6% to $10.29 billion.
Looking ahead, Johnson & Johnson reaffirmed its full-year guidance, projecting 2025 sales of $93.5 to $93.9 billion, slightly above the $93.46 billion analysts forecast, and adjusted EPS of $10.80 to $10.90, in line with consensus.
The company also announced plans to spin off its Orthopaedics business as a standalone unit under the DePuy Synthes brand within the next 18 to 24 months. Namal Nawana has been named Worldwide President of the new entity.
CEO Joaquin Duato said the company is focusing on six strategic areas as it seeks “accelerated growth and innovation.”
Shares of Johnson & Johnson fell 1.9% at the open following the release.