Johnson & Johnson Fourth-Quarter Earnings Down 25%

📆 24-01-23 17:52:00
📰 WSJhealth

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The healthcare-products company reported declining sales in the fourth quarter as demand dropped for its Covid-19 vaccine.

Johnson & Johnson reported a 25% drop in earnings and declining sales for the fourth quarter as demand dropped for its Covid-19 vaccine, while providing a cautious forecast for sales growth as the company undergoes a big transformation.

The New Brunswick, N.J., healthcare-products company said Tuesday that quarterly revenue fell 4.4% to $23.71 billion on fewer vaccine sales and a stronger dollar, below analyst estimates of $23.9 billion, according to FactSet.

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