Summary by Moomoo AI
Johnson & Johnson reported Q3 2024 revenue of $22.5 billion, up 5.2% year-over-year, with operational growth of 6.3% partially offset by a 1.1% negative currency impact. Innovative Medicine sales rose 4.9% to $14.6 billion, while MedTech revenue increased 5.8% to $7.9 billion. The quarter included a $1.25 billion charge for acquiring NM26 bispecific antibody rights.Net earnings declined to $2.7 billion from $4.3 billion in Q3 2023, primarily due to $2.0 billion in talc-related charges. The company recorded strong performance in key products, with DARZALEX sales up 20.7% to $3.0 billion and TREMFYA growing 13.0% to $1.0 billion. The MedTech segment was boosted by the Shockwave acquisition and double-digit growth in Electrophysiology.Looking ahead, J&J maintained its operational sales growth outlook and continues to pursue resolution of talc claims through multiple pathways. The company's financial position remains strong with $20.0 billion in cash and cash equivalents. The Board declared a quarterly dividend of $1.24 per share, demonstrating continued commitment to shareholder returns despite ongoing litigation challenges.
