FLASH: Johnson & Johnson reports Q3 earnings slip 18%, boosts outlook
Johnson & Johnson raised its earnings outlook for the rest of the year despite posting an 18% profit slide during the 3rd quarter.
The New Brunswick, N.J.-based healthcare giant posted profits of $2.63 billion, or $1.05 per diluted share, on sales of $17.05 billion during the 3 months ended Sept. 30.
That amounts to a 6.5% top-line gain, but a 17.9% bottom-line slide. Still, adjusted to exclude 1-time items, J&J reported EPS of $1.25 per share, beating The Street's estimate of $1.21.