Why Johnson & Johnson Stock Rose Today
Shares of Johnson & Johnson (NYSE: JNJ) rallied 3% on Tuesday, following the release of the healthcare behemoth's first-quarter financial results.
J&J's revenue grew by 5% to $23.4 billion. The gains were driven by a 6.3% rise in the company's pharmaceutical sales and a 5.9% increase in medical device sales. A 1.5% decline in consumer health revenue, which was hurt by global supply chain disruptions, partly offset these gains.
"Our first-quarter results demonstrate strong performance across the enterprise, despite macro-economic headwinds," CEO Joaquin Duato said in a press release.
Source Fool.com
