Growing J&J sales tempered by rising costs

23 January 2024

US healthcare giant Johnson & Johnson (NYSE: JNJ) announced its fourth-quarter and annual financial results for 2023 on Tuesday.

The firm reported fourth-quarter reported sales growth of 7.3% to $21.4 billion, which was 2% higher than the consensus estimate of analysts, according to Leerink Partners.

The fourth-quarter adjusted earnings per share figure of $2.29 - compared to last year's $2.05 - was essentially in line with the consensus estimate of $2.28, and would have been greater had it not been for operating income being 7% below the expected amount.

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