BioCentury
ARTICLE | Finance

COVID-19 pushes J&J to slash guidance; vaccine initiative on track

April 14, 2020 10:56 PM UTC

Johnson & Johnson cut its guidance Tuesday as it braced for its bottom line to take a hit from the pandemic. The update came as the company topped consensus estimates for the first quarter and reiterated the timeline for its COVID-19 vaccine program.

Johnson & Johnson (NYSE:JNJ) added about $16.5 billion in market cap Tuesday after reporting 1Q20 results that beat consensus estimates on both EPS and revenues. EPS came in at $2.30 vs. $2.01 and up 10% over 1Q19; revenues were $20.7 billion vs. $19.7 billion, an increase of 3%...

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