Johnson & Johnson's Strong Q3 Performance Drives Stock Surge and Outlook Upgrade

Johnson & Johnson reported better-than-expected adjusted earnings and revenue for the third quarter, driven by strong sales in its pharmaceutical and medical devices businesses. The company raised its full-year guidance, expecting sales of $83.6 billion to $84 billion and adjusted earnings per share of $10.07 to $10.13. J&J's stock rose over 1% in premarket trading. The results come as J&J operates as a standalone pharmaceutical and medical devices company following its separation from consumer health spinoff Kenvue. The company's sales grew 6.8% compared to the same period last year, with pharmaceutical sales reaching $13.89 billion and medical devices sales rising to nearly $7.46 billion. However, J&J continues to face legal challenges related to asbestos-contaminated talc products.