J&J sales grow, but strong dollar tugs at expectations

Published October 18, 2022 4:57 AM

By TOM MURPHY
AP Health Writer

Johnson & Johnson topped third-quarter expectations thanks to pharmaceutical sales growth, but a strong dollar made the health care giant tread cautiously again with its outlook. J&J on Tuesday narrowed its 2022 forecast and stuck to the midpoint of its previous range after lowering expectations earlier this year due to the impact of currency exchanges. In the third quarter, J&J’s profit climbed 22% to $4.46 billion. Revenue rose 2% to $23.79 billion, and adjusted earnings totaled $2.55 per share. FactSet says analysts were expecting earnings of $2.48 per share on $23.36 billion in revenue.