The Strategist

Johnson & Johnson's net profit falls by 2.7% in 2020

01/27/2021 - 02:46

Net profit at Johnson & Johnson (J&J), the world's largest manufacturer of health products, fell by 2.7% year-on-year to $14.714 billion in 2020, the company said in a press release.

Raysonho @ Open Grid Scheduler / Grid Engine
Raysonho @ Open Grid Scheduler / Grid Engine
On a per-share basis, diluted earnings were $5.51 compared to $5.63 in 2019. The company's revenue for the period rose by 0.6 per cent to $82.584 billion.

J&J reported fourth-quarter net profit of $1.738 billion, down 2.3 times from a year ago. On a per-share basis, the company's diluted earnings were $0.65 compared with $1.5 a year earlier. The company's October-December revenue rose 8.3% year on year to $22.475 billion. Analysts expected quarterly revenue of $21.69 billion.

The company also said it expected sales in 2021 in the range of $90.5 billion to $91.7 billion. Adjusted diluted earnings per share are expected to be $9.4-9.6.

"We continue to improve our vaccine product against COVID-19 and look forward to sharing details of Phase 3 trials soon," Alex Gorsky, chairman and CEO, said in a statement.


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