Johnson & Johnson tops 4Q profit forecasts

Markets Associated Press

FILE - In this July 16, 2012, file photo, Johnson & Johnson products are displayed in Orlando, Fla. On Tuesday, Jan. 24, 2017, Johnson & Johnson reports financial results. (AP Photo/John Raoux, File) (The Associated Press)

Johnson & Johnson (JNJ) on Tuesday reported fourth-quarter net income of $3.81 billion.

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On a per-share basis, the New Brunswick, New Jersey-based company said it had profit of $1.38. Earnings, adjusted for amortization costs and restructuring costs, came to $1.58 per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.

The world's biggest maker of health care products posted revenue of $18.11 billion in the period, matching Street forecasts.

Johnson & Johnson expects full-year earnings in the range of $6.93 to $7.08 per share, with revenue in the range of $74.1 billion to $74.8 billion.

Johnson & Johnson shares have fallen 1 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1 percent. The stock has risen 19 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JNJ at https://www.zacks.com/ap/JNJ

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Keywords: Johnson & Johnson, Earnings Report, Priority Earnings