Johnson & Johnson lowers profit forecast

» Published:

Johnson & Johnson lowers profit forecast
Photo: Richard Drew AP/TT

Share this article

The American pharmaceutical company Johnson & Johnson is lowering its profit forecast for 2024. Unexpectedly high costs related to acquisitions are behind the decision.

Johnson & Johnson is simultaneously reporting a 10 percent profit increase for the second quarter of the year, which was better than expected. The adjusted operating profit rises to 2.82 dollars per share, compared to the expected 2.71 dollars per share.

Sales increased by 4 percent to 22.4 billion dollars, which can be compared to an average forecast of 22.3 billion dollars according to a compilation made by the news agency Bloomberg.

For the full year, the company is lowering its forecast to an adjusted profit of 9.97-10.07 dollars per share. Previously, it was at 10.57-10.72 dollars. The sales forecast of 88.0-88.4 billion dollars is confirmed.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Fed Lowers Interest Rate by 0.25 Points to 4.00–4.25 Percent

Fed Lowers Interest Rate by 0.25 Points to 4.00–4.25 Percent

China Urges Tech Giants to Halt Nvidia AI Chip Purchases

China Urges Tech Giants to Halt Nvidia AI Chip Purchases

Jerry Greenfield Departs Ben & Jerry's, Citing Silencing by Unilever

Jerry Greenfield Departs Ben & Jerry's, Citing Silencing by Unilever

Avanza Introduces Digital Trading on London Stock Exchange

Avanza Introduces Digital Trading on London Stock Exchange

Uber Introduces Safari Tours in Kenya's Nairobi National Park

Uber Introduces Safari Tours in Kenya's Nairobi National Park

Swedish Inflation Expectations Rise Slightly in Latest Survey

Swedish Inflation Expectations Rise Slightly in Latest Survey

Sweden's Unemployment Rate Stays High in August

Sweden's Unemployment Rate Stays High in August

Stockholm Stock Exchange Sees Modest Gain Led by H&M

Stockholm Stock Exchange Sees Modest Gain Led by H&M

Verisure Returns to Stockholm Stock Exchange with Major Listing

Verisure Returns to Stockholm Stock Exchange with Major Listing

Oracle and Partners to Acquire TikTok's US Operations

Oracle and Partners to Acquire TikTok's US Operations

Taco Bell to Open First Sweden Location in Stockholm Winter 2025

Taco Bell to Open First Sweden Location in Stockholm Winter 2025

Retail Outlook Brightens as Consumer Spending Set to Boost Economy

Retail Outlook Brightens as Consumer Spending Set to Boost Economy

SBAB Predicts Stable Housing Prices Despite Autumn Interest Rate Cut

SBAB Predicts Stable Housing Prices Despite Autumn Interest Rate Cut

Asian Stock Markets Open Mixed Amid Fed Rate Cut Speculation

Asian Stock Markets Open Mixed Amid Fed Rate Cut Speculation

Microsoft Announces $30 Billion Investment in UK Cloud and AI Infrastructure

Microsoft Announces $30 Billion Investment in UK Cloud and AI Infrastructure

US Stock Market Sees Slight Decline Amid Retail Sales Data

US Stock Market Sees Slight Decline Amid Retail Sales Data

Trump Extends TikTok Deal Deadline to December 16

Trump Extends TikTok Deal Deadline to December 16

NHTSA Investigates 174,000 Tesla Cars Over Door Handle Issues

NHTSA Investigates 174,000 Tesla Cars Over Door Handle Issues

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Swedish Households Shift from Borrowing to Diverse Savings Strategies

Swedish Households Shift from Borrowing to Diverse Savings Strategies