Investing.com - Health care conglomerate Johnson & Johnson (NYSE:JNJ) reported better-than-expected third quarter earnings on the back of strong revenue figures, it announced early Tuesday.
J&J said earnings per share came in at $1.50 in the three months ending September 30, beating expectations for earnings of $1.44 per share.
The company’s third quarter revenue totaled $18.47 billion, above expectations for revenue of $17.57 billion.
Domestic sales increased 11.6%, while international sales decreased 0.3%, reflecting operational growth of 1.0% and a negative currency impact of 1.3%.
Worldwide, domestic and international operational sales growth, excluding the impact of this divestiture, was 8.4%; 14.8% and 3.1% respectively.
"Our strong third-quarter performance reflects the continued success of our new products and the strength of our core business. We are making deliberate portfolio choices, positioning us well for achieving our near-term priorities and our long-term growth drivers," said Alex Gorsky, Chairman and Chief Executive Officer.
The firm now sees full year adjusted earnings per share in a range between $5.92 and $5.97, up from a previous estimate for adjusted earnings between $5.85 and $5.92 per share.
Immediately after the earnings announcement, JNJ shares rose 1.4% in trading prior to the opening bell.
Meanwhile, the outlook for U.S. equity markets was modestly higher. The Dow 30 futures indicated a gain of 0.2%, the S&P 500 pointed to a rise of 0.3%, while the tech-heavy NASDAQ 100 indicated an increase of 0.3%.