Johnson & Johnson Suspends Vaccine Sales Guide, Boosts Dividend

Updated at 9:59 am EST

Johnson & Johnson  (JNJ) – Get Johnson & Johnson Report posted stronger-than-expected first quarter earnings Tuesday but lowered its full-year profit forecast, and suspended its guidance for vaccine sales amid what it called a global surplus and waning demand. 

Johnson & Johnson said adjusted earnings for the three months ending in March were pegged at $2.67 per share, up 3% from the same period last year and 8 cents ahead of the Street consensus forecast. Group revenues, Johnson & Johnson said, rose 45% to $23.43 billion, a figure that just missed analysts’ estimates of a $23.6 billion tally.

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