Fourth Quarter Financial Results
In the fourth quarter of 2023, Johnson & Johnson recorded revenue growth of 5.3%, reaching a total of 22.5 billion dollars. However, adjusted earnings declined by 11% to 4.9 billion dollars, equivalent to 2.04 dollars per share. This trend highlights a certain vulnerability of the company, despite the increase in revenues
.
Annual performance and future prospects
Overall, the entire year closed with adjusted net profits of 24.2 billion dollars, down 4.6% compared to the previous year.
Total revenues reached 88.8 billion dollars, an increase of 4.3%. Joaquin Duato, president and CEO of Johnson & Johnson, described 2024 as “a year of transformation,” stressing the importance of strong growth and an accelerating pipeline, together with significant investments in
innovation.
Impact of the mortgage market in the United States
In a broader economic environment, mortgage applications in the United States showed a slight increase, supported by a reduction in interest rates. According to the Mortgage Bankers Association, in the week ending January 17, overall claims grew by 0.1%, with 30-year fixed mortgage rates falling to 7.02%. This scenario could positively influence consumer spending and, consequently, the performance of companies like Johnson & Johnson.
