Let’s talk crypto, Metaverse, NFTs, CeDeFi, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!
During the first three months of 2021, Johnson & Johnson reported revenue of $22.32 billion versus $21.98 billion expected by analysts.
Healthcare company Johnson & Johnson (NYSE: JNJ) stock has jumped over 2.5% on Tuesday, April 20, 2020, as of 11:00 a.m EDT to trade around $166.82. The Johnson & Johnson multinational corporation has just announced its Q1 earnings results that incidentally beat analysts’ expectations. Hereby prompting the sudden upside movement in JNJ stock.
Johnson & Johnson Q1 Earnings Results
During the first three months of 2021, Johnson & Johnson reported revenue of $22.32 billion versus $21.98 billion expected by analysts according to a survey conducted by Refinitiv. Additionally, Johnson & Johnson reported adjusted earnings per share of $2.59 in the first three months against an estimate of $2.34.
Notably, the company’s pharmaceutical business segment that developed the single-shot COVID vaccine generated approximately $12.19 billion in revenue, a 9.6% year-over-year increase.
During the first quarter, the company reported a $100 million sale of its COVID vaccine. However, the use of the company’s covid vaccine has been halted by the CDC due to blood clotting reports among people who have received its jab.
The consumer unit that is entitled to make products such as Neutrogena face wash and Listerine reported revenue of $3.5 billion, approximately 2.3% down from the same time last year. The company noted the decline in this segment was due to the fact that people are not stockpiling goods due to the pandemic.
The other JNJ segment noted in the report was the medical device unit that recorded a revenue of $6.57 billion, up approximately 7.9%. The increase was due to the increased demand for the devices to treat covid patients. Besides, the tweak was partly due to the reopening of elective surgeries that were enforced to give way to treat covid patients.
Notably, Johnson & Johnson raised its full-year earnings and revenue. In the next coming months to the end of the year, the company expects a full-year profit of $9.42 to $9.57 per share, compared with its previous forecast of $9.40 to $9.60 per share. Additionally, the company expects its revenue to hit between $90.6 billion and $91.6 billion, compared with its prior forecast of $90.5 billion to $91.7 billion.
JNJ Stock and Major Fundamental
JNJ stock investors might be torn between focusing on the full-year guidance that is positive and the fact that the company’s COVID vaccine has been stopped in major markets.
As the company revisits its COVID-19 vaccine to improve based on the blood clotting issue, investors might be watching how other segments perform in the coming months.