Investing.com - Health care conglomerate Johnson & Johnson reported better-than-expected fourth quarter earnings on the back of strong revenue figures, it announced early Tuesday.
Earlier in the day, in its fourth quarter earnings report, J&J said earnings per share came in at USD1.24, beating expectations for earnings of USD1.20 per share.
The company’s fourth quarter revenue totaled USD18.36 billion, up 4.5% from the same period a year earlier and above expectations for revenue of USD17.91 billion.
Domestic sales increased 7.4%, while international sales increased 2.4%, reflecting operational growth of 5.6% and a negative currency impact of 3.2%.
Worldwide sales for the full-year 2013 were USD71.3 billion, an increase of 6.1% versus 2012.
The firm now sees full year adjusted earnings per share in a range between USD5.75 and USD5.85, compared to expectations for adjusted earnings of USD5.86 per share.
Alex Gorsky, Chairman and Chief Executive Officer, said, "Johnson & Johnson delivered strong results in 2013 led by the outstanding performance in our Pharmaceutical business, the strength of key brands in our US OTC and other Consumer businesses and continued progress in integrating Synthes into our Medical Devices and Diagnostics business.”
Immediately after the earnings announcement, Johnson & Johnson shares rose 0.65% in trading prior to the opening bell.
Meanwhile, U.S. stock futures pointed to a higher open. The Dow Jones Industrial Average futures indicated a gain of 0.45% at the open, S&P 500 futures added 0.4%, while the Nasdaq 100 futures indicated a rise of 0.55%.