Johnson & Johnson reported a rise in its Q3 earnings and revenue, beating industry expectations.
Adjusted earnings per share were $2.12 compared to $2.01 expected, with the company’s prescription drugs said to have bolstered the growth. Revenue achieved $20.73 as opposed to the $20.07 predicated.
J&J shares also rose, climbing 2 percent to $133.70, with the positive results said to have helped alleviate investor concerns over mounting legal challenges regarding its talc-based products, antipsychotic drug Risperdal, opioids and medical devices.
The company has increased its full year guidance from the previous $8.53 to $8.63 a share to $8.62 to $8.67 per share, with revenue forecasted between $81.8 billion to $82.3 billion.
The personal care giant failed to provide an updated cost on its legal expenses, which over the first nine months amounted to $832 million.