Investing.com - Johnson & Johnson (NYSE:JNJ) saw shares move slightly higher in pre-market trade on Tuesday after reporting fourth quarter earnings that beat consensus.
Specifically, the Dow component reported fourth quarter adjusted earnings-per-share (EPS) of $1.74, compared to expectations of $1.72.
Revenue at the healthcare giant grew 11.5% from the same period a year before to $20.2 billion, coming in ahead of estimates for $20.07 billion.
“Johnson & Johnson delivered strong adjusted earnings per share growth of 8.5% and total shareholder return of greater than 24% in 2017, driven by the robust performance of our Pharmaceutical business, while continuing to make investments in acquisitions, innovation and strategic partnerships to accelerate growth in each of our businesses,” the company’s chairman and chief executive officer Alex Gorsky said in the release.
“As we enter 2018 and look beyond, we are experiencing an incredible pace of change in health care. Johnson & Johnson is uniquely positioned to lead during this dynamic era and deliver innovative solutions for patients and consumers that drive sustainable, long-term growth,” he added.
Gorsky also indicated that the firm was pleased with the recent overhaul to U.S. tax legislation which will enable the company to “invest in innovation at higher levels to help address the most challenging unmet medical needs facing health care today”.
Following the release, shares (NYSE:JNJ) were up 1.17% to $149.88, compared to Monday’s closing price of $148.14.