Johnson & Johnson reported quarterly results that came in above Wall Street estimates on sharply higher sales of its prescription drugs and improving sales of its medical devices.
The diversified health care company said on Tuesday it earned $3.52 billion, or $1.23 per share, in the fourth quarter. That compared with $2.57 billion, or 91 cents per share, in the year-earlier period, when J&J took a charge of $800 million related mostly to recalls of defective “metal-on-metal” hip replacement devices.
Excluding special items, J&J earned $1.24 per share. Analysts, on average, expected $1.20 per share, according to Thomson Reuters I/B/E/S.