On Tuesday, Johnson & Johnson (NYSE: JNJ) announced its financial results for the fourth quarter of 2017, with both earnings and revenue beating analysts’ estimates.
According to the company, for the fourth quarter, the company posted a net loss of $10.7 billion, or $3.99 per share. Excluding amortization expenses and special items, the company reported $4.8 billion, or $1.74 per share for the fourth quarter, beating estimates of $1.72 per share.
For the fourth quarter, revenue rose 11.5% to $20.2 billion, also beating analysts’ estimates of $20.1 billion. The company’s revenue increased 9.4% on an operational basis.
“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,” Alex Gorsky, the Chairman and Chief Executive Officer of the company, said in the statement on Tuesday.
“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,” Alex said.
Additionally, the company expected operational revenue growth to be in the range of 3.5% to 4.5%, however, according to the company, without the benefit of acquisitions and divestitures, organic growth is expected to be 2.5% to 3.5%. The result was below analysts’ estimates of 3.5% to 4%.
Shares of the company dropped 2.4% after rising 1.9% in the premarket on Tuesday.