Johnson & Johnson's Strong Q4 Performance Drives Profit Above Expectations

Johnson & Johnson narrowly beat Wall Street's expectations with fourth-quarter earnings and revenue, driven by surging sales in its pharmaceutical and medical devices businesses. The company provided full-year guidance for 2024, forecasting sales of $87.8 billion to $88.6 billion and adjusted earnings of $10.55 to $10.75 per share. J&J's medical devices business saw a 13.3% increase in sales, while its pharmaceutical division marked 4.2% year-over-year growth, excluding sales of its Covid vaccine. The company also faces challenges, including Medicare price negotiations and ongoing lawsuits related to talc-based products.