Johnson & Johnson Posts Better than Expected Third-Quarter Earnings
Oct 18, 2022 By MarketDepth
Johnson & Johnson (JNJ:NYQ) announces better-than-expected earnings while battling inflationary pressure. The company also said they aren’t ruling out job cuts as inflation mounts against earnings. The company is also restructuring its business and figuring out the correct size as it spinsoff the consumer division.
Johnson & Johnson is down on the day and only down about 5% on the year. Comparative to the tech sector it has held up quite well against challenging economic times.
As the dollar is gaining strength and inflation pressures are mounting J&J has said 2023 adjusted earnings will be lower than expected as they adapt to the current economic climate. The company is making adjustments now to ensure they meet targets for future fiscal quarters.