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J&J tops 3Q earnings target
Drug and consumer product manufacturer posts improved results, better than analysts' forecasts.
October 12, 2004: 8:36 AM EDT

NEW YORK (CNN/Money) - Drug and consumer products manufacturer Johnson & Johnson posted higher third-quarter earnings and revenue Tuesday that topped forecasts on Wall Street.

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The maker of Band-Aids, Tylenol and a host of prescription drugs earned $2.3 billion, or 78 cents share, up from $2.1 billion, or 69 cents, a year earlier. Analysts surveyed by earnings tracker First Call forecast 76 cents.

Revenue rose 10.5 percent to $11.6 billion. The company said that it saw a 7.7 percent growth in sales, and revenue increased 2.8 percent due to the effect of changes in currency-exchange rates. First Call's forecast called for revenue to rise to $11.3 billion in the period.

The company saw broad-based revenue gains across its various business lines. Revenue from consumer products gained nearly 10 percent to $2 billion, while prescription drug revenue rose 13.4 percent to $5.5 billion.

Medical devices and equipment revenue increased 7 percent to $4 billion as a decline in domestic sales was overcome by a 12.8 percent increase in overseas sales before the gains from currency-exchange rates.

Shares of Johnson & Johnson (JNJ: Research, Estimates), a component of the Dow Jones industrial average, gained 4 cents to $55.36 in trading Monday ahead of Tuesday's report.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.