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Johnson & Johnson beats on earnings, hikes full-year guidance as medtech sales surge

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The results come amid investor anxiety over the thousands of lawsuits claiming that J&J's talc-based baby powder and other products caused cancer.

Here's how J&J results compared with Wall Street expectations, based on a survey of analysts by Refinitiv:$25.53 billion, vs. $24.62 billion expected

The pharmaceutical giant reported a net income of $5.14 billion, or $1.96 per share. That compares with a net income of $4.8 billion, or $1.80 per share, for theShares of J&J have dropped more than 10% for the year, putting the company's market value at roughly $412 billion. The company raised its 2023 adjusted earnings outlook to $10.70 to $10.80 per share, from a previous forecast of $10.60 to $10.70 per share.

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Johnson & Johnson must pay $18.8 million to California cancer patient in baby powder suit | CNN BusinessJohnson & Johnson must pay $18.8 million to a California man who said he developed cancer from exposure to its baby powder, a jury decided on Tuesday, a setback for the company as it seeks to settle thousands of similar cases over its talc-based products in US bankruptcy court.
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