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COVID-19 Vaccine Sales Boost Johnson & Johnson's Q3 Earnings
Johnson & Johnson (NYSE:JNJ) said it sold $502 million U.S. of its COVID-19 vaccine in the third quarter, giving a boost to company earnings that beat Wall Street's expectations.
Johnson & Johnson reported earnings per share (EPS) of $2.60 U.S. versus $2.35 U.S. expected by analysts. The company's Q3 revenue came in at $23.34 billion U.S. compared with $23.72 billion U.S. that had been anticipated.
Shares of Johnson & Johnson rose more than 1% in premarket trading on the earnings results.
In a press release, Johnson & Johnson said the financial results "demonstrate solid performance driven by robust above-market results in pharmaceuticals, ongoing recovery in medical devices, and strong growth in consumer health."
However, Johnson & Johnson's earnings came under a shadow of criticism about how it handled the opioid crisis and the development of a comparatively less-effective COVID-19 vaccine under outgoing chief executive Alex Gorsky.
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