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Investing.com -- Johnson & Johnson (NYSE:JNJ) revised its full-year forecast, cutting the earnings outlook while raising the sales guidance range.
For the first quarter of fiscal 2025, the drugmaker reported earnings per share (EPS) of $2.77, surpassing the analyst expectations of $2.58.
Revenue for the period grew 2.4% to $21.9 billion, also ahead of the $21.57 billion projected by analysts.
The company’s MedTech sales rose 2.5% year-over-year during the quarter to $8.02 billion, slightly below the estimated $8.19 billion.
Cancer drug Darzalex generated $3.24 billion in revenue, up 20% from the prior year and ahead of the $3.1 billion forecast.
Johnson & Johnson’s psoriasis drug Stelara brought in $1.63 billion, down 34% year-over-year, but still narrowly above the $1.61 billion estimate.
“The power of Johnson & Johnson’s uniquely diversified portfolio was on full display this quarter, with strong operational sales growth reinforcing our confidence in 2025 guidance,” said Joaquin Duato, the drugmaker’s Chairman and CEO.
For the full year 2025, Johnson & Johnson now expects earnings per share between $10.50 and $10.70, compared to its previous range of $10.75 to $10.95 and the consensus estimate of $10.50.
"Including tariff costs, dilution from the Intra-Cellular Therapies (NASDAQ:ITCI) acquisition, and updated foreign exchange, company maintains full-year 2025 adjusted reported EPS outlook of 6.2% growth at the mid-point," Johnson & Johnson said in the release.
The drugmaker raised its full-year sales outlook to between $91 billion and $91.8 billion, up from a prior range of $89.2 billion to $90 billion.