The results come amid investor anxiety over the thousands of lawsuits claiming that J&J's talc-based baby powder and other products caused cancer.
Here's how J&J results compared with Wall Street expectations, based on a survey of analysts by Refinitiv:$25.53 billion, vs. $24.62 billion expected
The pharmaceutical giant reported a net income of $5.14 billion, or $1.96 per share. That compares with a net income of $4.8 billion, or $1.80 per share, for theShares of J&J have dropped more than 10% for the year, putting the company's market value at roughly $412 billion. The company raised its 2023 adjusted earnings outlook to $10.70 to $10.80 per share, from a previous forecast of $10.60 to $10.70 per share.
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