NEW BRUNSWICK, N.J. (AP) – Johnson & Johnson (JNJ) on Tuesday reported fourth-quarter net income of $3.22 billion.
The New Brunswick, New Jersey-based company said it had profit of $1.15 per share. Earnings, adjusted for restructuring costs and amortization costs, were $1.44 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The world’s biggest maker of health care products posted revenue of $17.81 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $17.94 billion.
Johnson & Johnson expects full-year earnings in the range of $6.43 to $6.58 per share, with revenue in the range of $70.8 billion to $71.5 billion.
Johnson & Johnson shares have decreased 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has fallen 8 percent. The stock has dropped almost 6 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JNJ at http://www.zacks.com/ap/JNJ
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Keywords: Johnson & Johnson, Earnings Report, Priority Earnings