Johnson & Johnson tops quarterly profit estimates as medical device sales jump

Key Facts

Here’s what J&J reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $2.71 adjusted vs. $2.64 expected Revenue: $21.38 billion vs. $21.4 billion expected J&J’s financial results are considered a bellwether for the broader health sector.
The company reported $21.38 billion in total sales for the first three months of 2024, up more than 2% from the same quarter in 2023.
But first-quarter sales of the company’s blockbuster drug Stelara, which is used to treat several chronic and potentially disabling conditions such as Crohn’s disease, were relatively flat from the same period a year ago.
In January, J&J said it has reached a tentative settlement to resolve an investigation by more than 40 states into claims the company misled patients about the safety of its talc-based products.