NEW BRUNSWICK, N.J. – Johnson & Johnson (JNJ) on Tuesday reported third-quarter earnings of $4.75 billion.
J&J also raised its 2014 earnings forecast.
On a per-share basis, the New Brunswick, New Jersey-based company said it had net income of $1.66. Earnings, adjusted for non-recurring gains, came to $1.50 per share.
The results topped Wall Street expectations. The average estimate of 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 $18.47 billion in the period, which also topped Street forecasts. Analysts expected $18.31 billion, according to Zacks.
J&J expects full-year earnings in the range of $5.92 to $5.97 per share.
The company’s stock rose $1.66 to $100.78 in premarket trading.
J&J shares have risen 8 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 1 per cent. The stock has increased 11 per cent in the last 12 months.