J & J net income jumps 19 percent
by The Associated Press
February 03, 2014 12:03 AM | 787 views | 0 0 comments | 8 8 recommendations | email to a friend | print

Johnson & Johnson's fourth-quarter net income jumped 19 percent to $3.52 billion. Revenue rose 4.5 percent to $18.36 billion.

THE DRIVERS: Sales of key prescription drugs and three new ones boosted that business by 12 percent, the consumer health business rebounded as three-quarters of J&J's recalled nonprescription medicines are now back in stores, and it got a $707 million tax benefit from writing off money-losing subsidiary Scios.

THE FORECAST: J&J expects 2014 earnings per share of $5.75 to $5.85, just below Wall Street's consensus. Some analysts think it can't sustain its recent prescription drug sales growth rate.

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