A major leap in sales of prescription drugs, especially abroad, helped Johnson & Johnson to fluctuate to a large fourth-quarter surplus after spending a major loss a year ago when it charged 13.6% billions of dollars at the end of 201
The world's largest producer of healthcare products has also benefited from an effective tax rate of 2.6 percent for the last quarter, which amounted to only $ 80 million. That was the main reason why the J&J peaked Wall Street profit expectations, writes Investor Credit Suisse Vamil Divan analyst.
The company also reported lower research and development costs, restructuring and interest charges.
In premarket trading, J & J shares fell $ 1.99 or 1.5 percent to $ 128.70.
The manufacturer of baby shampoos and biotechnology on Tuesday reported a net income of $ 3.04 billion. Or $ 1.12 per. Share for 2018 fourth quarter. A year earlier, J & J reported a rare net loss – $ 10.71bn. Or $ 3.00 pr. Share. This was due to the $ 13.6 billion tax for a year's tax payment of accumulated foreign earnings of over $ 66 billion returned to the United States with low tax rates.
Last quarter earnings adjusted for gains and expenses came to $ 1.97 per share. share or 2 cents better than industry analysts expected, according to a study by Zacks Investment Research.
New Brunswick, New Jersey-based company said revenue amounted to $ 20.39 billion. expectations, although only 1 percent higher than the fourth quarter of 2017.
J & J & # 39; s prescription pharmaceutical company, as usual, ran the strong performance with revenue of 5.3 percent to $ 10.19 billion. USD. The sale of cancer drugs, including Darzalex, Imbruviga and Zytiga, jumped 22 percent to a total of 2.49 billion. Dollars and sales of Remicade, Simponi and Stelara for rheumatoid arthritis and other immune disorders rose 8.3 percent to a total of $ 3.34 billion. $.
Johnson & Johnson's consumer health business accounted for a flat sale of $ 3.54 billion. Dollars, while medical equipment and the diagnostics company has been around for some years, so sales fell 4.4 percent to 6.67 billion. USD.
For the whole of 2018, Johnson & Johnson reported revenue of DKK 81.58 billion. DKK, An increase of 6.7 percent and a net income of DKK 15.3 billion. USD or $ 5.61 per Share.
Johnson & Johnson expects full-year earnings between $ 8.50 and $ 8.65 per year. Share with a turnover of DKK 80.4 billion USD and USD 81.2 billion . Industrial analysts have expected earnings of $ 8.60 and revenue of approx. $ 82.6 billion.
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_____ Portions of this story were generated by automated insights (http://automatedinsights.com/ap) by using data from Zacks Investment Research.