J&J misses quarterly revenue estimate and opens down

22 January 2020

US healthcare giant Johnson & Johnson (NYSE: JNJ) opened nearly 2% lower in Wednesday’s trading after presenting its financial results for the fourth quarter of 2019, and the year as a whole.

The company reported fourth-quarter sales of $20.74 billion, up 1.7% on the same period of 2018 but below the average estimate of Wall Street experts polled by Refinitiv, who had expected $20.8 billion.

Pharma the key growth sector

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