Strong 3Q for Johnson & Johnson and a better outlook

Strong 3Q for Johnson & Johnson and a better outlook
FILE- This Nov. 14, 2018, file photo shows Lubriderm, a Johnson & Johnson product, on display at a market in Pittsburgh. Johnson & Johnson reports financial results Tuesday, Oct. 14, 2019. (AP Photo/Gene J. Puskar, File)

NEW BRUNSWICK, N.J. (AP) — Johnson & Johnson is reporting strong third quarter earnings and revenue and raising its outlook for the year.

The world’s biggest maker of health care posted net income of $4.83 billion Tuesday, or $1.81 per share. Earnings, adjusted for one-time gains and costs, came to $2.12 per share, easily topping projections for $2 from Wall Street, according to a survey of analysts by Zacks Investment Research.

Revenue of $20.73 billion also beat forecasts.

The New Brunswick, New Jersey company now expects per-share earnings of $8.62 to $8.67 this year and revenue of between $81.8 billion and $82.3 billion. In July, the company forecast per-share earnings between $8.53 and $8.63, and revenue between $80.8 billion and $81.6 billion.

_____

Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JNJ at https://www.zacks.com/ap/JNJ