J&J Covid vaccine added $502 million to third-quarter sales

Business

Johnson & Johnson said it sold $502 million of its Covid-19 vaccine in the third quarter, in its earnings report Tuesday that beat Wall Street’s profit expectations.

Here’s how J&J did compared with what Wall Street expected, according to average estimates compiled by Refinitiv:

  • Adjusted EPS: $2.60 per share vs $2.35 expected.
  • Revenue: $23.34 billion vs $23.72 billion expected.

Shares of J&J jumped more than 1% in premarket trading.

J&J’s report came under a shadow of criticism about how it handled the opioid crisis and the development of a comparatively less-effective Covid vaccine under outgoing CEO Alex Gorsky.

In a press release, Gorsky said the financial results “demonstrate solid performance across Johnson & Johnson, driven by robust above-market results in Pharmaceuticals, ongoing recovery in Medical Devices, and strong growth in Consumer Health.”

This is a developing story. Please check back for updates.

Correction: This story was updated to reflect that J&J missed revenue estimates.

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