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Johnson & Johnson shares fell Tuesday after the company reported adjusted earnings and revenue that topped Wall Street’s expectations, but lowered its sales guidance for its pharmaceutical business.
J&J, whose financial results are considered a bellwether for many health companies, said its sales during the quarter grew 5.6% over the same quarter last year.
The consumer staples giant reported a net loss of $68 million, or 3 cents per share, related to its talc baby powder liabilities and costs tied to the upcoming spinoff of its consumer health business. That compares with a net income of $5.2 billion, or $1.93 per share, for the same period a year ago. Excluding certain items, adjusted…
Source cnbc.com
