Johnson & Johnson's third quarter net earnings fell 6.3 percent from the prior-year period to $3.2 billion on weak domestic sales but revenues rose 6.8 percent to total $16 billion, the company announced Tuesday.
Worldwide Consumer sales totaled $3.7 billion, a 4.9 percent increase from the previous year, but most of the growth was from its overseas markets. Even though U.S. sales declined 4.5 percent, international sales jumped 10.1 percent.
Overseas growth was evident in Worldwide Pharmaceutical and Worldwide Medical Devices and Diagnostic sales as well, which totaled $6 billion and $6.3 billion respectively. International sales increased 27.5 percent and 12.3 percent respectively, while domestic sales declined 6.1 percent and 0.7 percent respectively.
Diluted earnings per share totaled $1.15. Johnson & Johnson updated its earning guidance for the full year to between $4.95 and $5.00 per share.
Shares of Johnson & Johnson were down 0.20 percent to $63.66 in early morning trading, less than the Dow Jones Industrial Average as a whole, which is down 0.78 percent to 11,307.62.
This story corrects an earlier version that erroneously reported a rise in Johnson & Johnson's earnings. The article has been edited to reflect the correction. IBTimes regrets the error.
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