Johnson & Johnson Raises Revenue Forecast Despite Legal Costs Impact

The company reports strong oncology drug sales and adjusts profit expectations due to recent acquisitions.

Johnson & Johnson's third-quarter revenue increased by 5% year-over-year, reaching $22.47 billion, exceeding analysts' expectations.
Despite a 38% drop in net income due to over $3 billion in one-time expenses, the adjusted profit surpassed forecasts.
Sales of the cancer drug Darzalex rose by 20.7%, contributing significantly to the strong performance in oncology.
The company adjusted its full-year sales outlook to $89.4 billion to $89.8 billion but lowered profit projections to account for acquisition-related charges.
Challenges in the medical devices unit, particularly in the Asia Pacific region, were noted, with no significant improvement expected in China this year.