Johnson & Johnson JNJ Q4 2020 profit

Johnson & Johnson on Tuesday reported fourth quarter earnings and earnings that exceeded Wall Street expectations. The company also said it will release key details about its coronavirus vaccine “soon”.

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

• Adjusted EPS: $ 1.86 per share vs. $ 1.82 expected.

• Turnover: 22.48 billion dollars against 21.67 billion dollars expected.

“I am extremely proud of our Johnson & Johnson teams around the world for going above and beyond to meet stakeholder needs,” said Alex Gorsky, CEO of J&J, in a press release. “We continue to advance our COVID-19 vaccine candidate and look forward to sharing details of our Phase 3 study soon.”

J & J’s share price was essentially flat in pre-market trading after the report.

J & J’s pharmaceutical business, which is working on a coronavirus vaccine, generated $ 12.26 billion in revenue, a 16% year-over-year increase. The company’s consumer unit, which makes products such as Listerine, generated $ 3.6 billion in revenue, up 1.4% from the previous year. Its medical devices unit generated $ 6.58 billion, a decline of 0.7%.

J&J is expected to release data from its phase three trial testing its Covid-19 vaccine as early as this week.

U.S. officials and Wall Street analysts are eagerly awaiting federal clearance for J & J’s vaccine, which could take place as early as next month. Unlike the licensed vaccines from Pfizer and Moderna, which require two doses given approximately three to four weeks apart, J & J’s only require one dose. This means patients will not have to come back for another dose, simplifying logistics for healthcare providers.

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