Johnson & Johnson (JNJ)'s Weak Pharma Revenue Could Spell Doom For Rest Of Sector
4/19/2017 5:57:19 AM
Johnson & Johnson ( JNJ) shares closed down about 3% after the company reported first quarter revenue that missed analysts' expectations due to lighter than expected pharmaceutical sales.
The company reported first quarter earnings of $1.83 per share on revenue of $17.7 billion vs. Wall Street expectations of earnings of $1.77 per share on revenue of $18.04 billion. The company said U.S. pharmaceutical sales fell about 3% quarter-over-quarter to about $4.87 billion.
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