Johnson & Johnson (JNJ) reported third quarter earnings on Tuesday and $18.5 billion in revenue (+5.1% over the quarter a year ago), with net earnings of $4.7 billion ($1.66/share). Excluding one-time special items, net earnings were $4.3 billion, or $1.50/share, an increase of 9.5% from 3Q13. Earnings beat consensus estimates for $1.45 per share in earnings and $18.4 billion in revenue.
The company increased its earnings guidance for full-year 2014 to $5.92 – $5.97 per share for the third time this year. Previous guidance was for $5.85 – $5.92 per share.
Johnson & Johnson paid a dividend of $0.70 per share in September and has a $5 billion share repurchase program in place.
Worth noting for healthcare-centric investors, J&J’s Zytiga (abiraterone) did $568 million worldwide in the third quarter, up only slightly from $562 million in the second quarter, and +22% from 3Q13. Medivation’s (MDVN) competing Xtandi (enzalutamide) is rapidly taking market share from Zytiga in prostate cancer. Read more in PropThink’s previous coverage.
