Vaccine sales

J&J Company (JNJ) reported its financial results for the third quarter of 2021 earnings per share exceeded market analysts' forecasts, but revenues fell short of estimates. Sales of COVID-19 vaccines totalled $502m. J&J increased its full-year forecasts.

Johnson & Johnson (JNJ) released its financial results for the third quarter of 2021 on Tuesday before trading opened.

The results showed consistent sales growth, but revenues were slightly below Wall Street estimates.

J&J shares have been little changed since the start of 2021 (+1.74%), but news of rising profits and strong sales of COVD-19 vaccines, as well as an increase in the company's outlook, could have a positive impact on them.

At Tuesday's pre-market, J&J shares were up 2% (at the time of writing).

J&J's third-quarter earnings per share rose 18% from a year ago to $2.60, beating market analysts' forecasts of $2.35.

The company's total quarterly sales rose 11% to $23.33 billion, but hit Wall Street expectations of $23.72 billion.

In the fourth quarter, it sold $502 million Covid-19 vaccines, and J&J's annual revenue forecast is $2.5 billion.

J&J raised its revenue per share guidance from $9.77 to 9.82, with total revenue $9.60 to 9.70 bln from $93.8 to 94.6 billion.

Earlier this month, J&J asked the Food and Drug Administration (FDA) to allow a booster dose of its single-dose Covid vaccine. An influential FDA advisory committee said Friday that the agency should allow the revaccination with the J&J vaccine to more than 15 million Americans who have already received the initial dose. The FDA's final decision is expected within days.

J&J's competitor, Pfizer (PFE) has already received approval for its booster third vaccine, booster vaccine Moderna (MRNA) has also received an FDA recommendation and is awaiting final approval in the coming days.