Johnson & Johnson Q3 Profit Slips 6%, but Adjusted Net Beats View (JNJ)

By
A A A
Share |

Healthcare products giant Johnson & Johnson ( JNJ ) on Tuesday said its third quarter profit fell 6% from last year, hurt by higher costs and special charges, but adjusted results beat analysts' forecasts.

The New Brunswick, NJ-based company reported third quarter net income of $3.2 billion, or $1.15 per share, compared with $3.42 billion, or $1.23 per share, in the year-ago period. Excluding one-time acquisition charges, adjusted profit was $1.24 per share.

Revenue rose 7% from last year to $16 billion.

On average, Wall Street analysts expected a smaller adjusted profit of $1.21 per share, albeit on slightly higher sales of $16.02 billion.

Johnson & Johnson shares were unchanged in premarket trading Tuesday.

The Bottom Line
Shares of Johnson & Johnson ( JNJ ) have a 3.57% dividend yield, based on last night's closing stock price of $63.79. The stock has technical support in the $58-$60 price area. If the shares can firm up, we see overhead resistance around the $66-$68 price levels.

Johnson & Johnson ( JNJ ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: JNJ

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

77%

Most Active by Volume

210,395,138
  • $10 ▼ 19.22%
96,887,808
  • $16.99 ▲ 1.13%
95,228,035
  • $75.86 ▼ 6.08%
56,807,621
  • $11.21 ▼ 4.02%
49,508,265
  • $107.34 ▲ 0.56%
43,870,160
  • $3.35 ▲ 0.60%
39,156,225
  • $42.08 ▼ 3.88%
37,305,534
  • $99.81 ▼ 0.37%
As of 10/29/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com