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J&J Q4 profit, sales beat expectations

J&J Q4 profit, sales beat expectations
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First Published: Tue, Jan 26 2010. 07 04 PM IST
Updated: Tue, Jan 26 2010. 07 05 PM IST
New York: Johnson & Johnson (J&J) reported on Tuesday better-than-expected fourth quarter earnings and sales, helped by a recovering global economy, but provided a 2010 profit forecast range that barely reached Wall Street projections.
The diversified healthcare company said its quarterly profit fell to $2.2 billion, or 79 cents per share, compared with $2.71 billion, or 97 cents per share, in the year-ago period.
Excluding special items, such as restructuring charges, J&J earned $1.02 per share. Analysts on average had expected 97 cents per share, according to Thomson Reuters I/B/E/S.
Company sales rose 9% to $16.55 billion, well above analyst predictions of $15.7 billion.
J&J, which is known for making conservative forecasts, predicted a full-year 2010 profit of $4.85 per share to $4.95 per share excluding items. Analysts have expected $4.94 per share.
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First Published: Tue, Jan 26 2010. 07 04 PM IST