Johnson & Johnson Shares Gain After Profit Beat, Raised Outlook | Fox Business

Shares of Johnson & Johnson rose 1.1% in premarket trade Tuesday, after the drug and health products company beat third-quarter profit expectations and raised its full-year outlook. Net profit came in at $4.75 billion, or $1.66 a share, up from $2.98 billion, or $1.04 a share, in the same period a year ago. Excluding non-recurring items, adjusted per-share earnings were $1.50, exceeding the average analyst estimate compiled by FactSet of $1.45. Sales rose 5.1% from last year to $18.47 billion, compared with analyst forecasts of $18.44 billion, as 11.6% growth in domestic sales helped offset a 0.3% decline in international sales. The company also raised its full-year earnings-per-share outlook to $5.92 to $5.97 from $5.85 to $5.92. JNJ's stock, a component of the Dow industrials, had gained 8.2% in the year to date through Monday, compared with a 1.4% rise in the S&P 500.