Johnson & Johnson said in its earnings report on Tuesday that it sold $ 502 million of its Covid-19 vaccine in the third quarter, beating Wall Street’s earnings expectations.
According to Refinitiv’s average estimates, J&J has fared compared to Wall Street expectations as follows:
- Adjusted earnings per share: $ 2.60 per share versus expected $ 2.35.
- Revenue: $ 23.34 billion versus $ 23.72 billion expected.
J & J’s shares rose more than 1% in pre-trading hours.
J & J’s report was overshadowed by criticism about how it dealt with the opioid crisis and the development of a comparatively less effective Covid vaccine under outgoing CEO Alex Gorsky.
In a press release, Gorsky said the financial results “show solid performance from Johnson & Johnson, driven by robust outperformance in pharmaceuticals, continued recovery in medical devices and strong growth in consumer health.”
This is a developing story. Please check again for updates.
Correction: This story has been updated to reflect that J&J missed its sales estimates.