Johnson & Johnson beats 4Q profit forecasts

NEW BRUNSWICK (AP) — Johnson & Johnson (JNJ) on Tuesday reported fourth-quarter net income decreased by 28 percent to $2.52 billion.

The New Brunswick-based company said it had profit of 89 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.27 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The world's biggest maker of health care products posted revenue of $18.25 billion in the period, missing Street forecasts. Analysts expected $18.51 billion, according to Zacks.

Johnson & Johnson expects full-year earnings in the range of $6.12 to $6.27 per share.

Johnson & Johnson shares have declined 0.5 percent since the beginning of the year, while the Standard & Poor's 500 index has declined nearly 2 percent. The stock has risen slightly more than 9 percent in the last 12 months.

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