The Strategist

Johnson & Johnson increases net profit by 7% in Q1

04/21/2021 - 06:56

US-based Johnson & Johnson (J&J), the world's largest manufacturer of health products, posted a 6.9% year-on-year increase in net profit to $6.197 billion for the first quarter of 2021, the company said in a press release.

Open Grid Scheduler via flickr
Open Grid Scheduler via flickr
On a per-share basis, diluted earnings were $2.32, compared with $2.17 a year earlier. Adjusted earnings were $2.59, compared with an estimate of $2.33. The company's revenue rose 7.9% to $22.321 billion in the reporting period. Analysts expected revenue of $22 billion.

At the same time, the company adjusted its revenue and earnings per share forecast for the current year. Thus, J&J expects revenue for 2021 to be $90.6-91.6 billion, rather than the $90.5-91.7 billion expected in January. Adjusted diluted earnings per share are expected to be $9.42-9.57, the company had previously forecast $9.4-9.6.

J&J was founded in 1886. Among the best-known brands are Johnson's baby, O.B., Clean & Clear and Reach.