71
Fashion Jobs
L'OREAL GROUP
Multi-Brand Education Manager
Permanent · JOHANNESBURG
L'OREAL GROUP
E-Commerce Manager
Permanent · JOHANNESBURG
BEIERSDORF
Brand Manager
Permanent · DURBAN
G-STAR
Key Account Manager
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
PUMA
Payroll Administrator
Permanent · CAPE TOWN
ADIDAS
Senior Manager Sales: Shoe Channel - em South
Permanent · CAPE TOWN
ADIDAS
Senior HR Business Partner (6-Months Maternity Cover)
Permanent · CAPE TOWN
L'OREAL GROUP
Product Manager
Permanent · JOHANNESBURG
TREK
Country Manager
Permanent · SANDTON
L'OREAL GROUP
E-Commerce Key Account Manager
Permanent · JOHANNESBURG
ADIDAS
ic pp Data & Analytics Specialist - em
Permanent · CAPE TOWN
BEIERSDORF
Precision Marketing & Audience Specialist
Permanent · DURBAN
CLINIQUE
Clinique - Roamer - Edgars Eastgate, Gauteng - 40 Hours - Full-Time - Permanent
Permanent · JOHANNESBURG
PANDORA
Sales Assistant Ppt 96 Hours Balito
Permanent · DURBAN
L'OREAL GROUP
Data Analyst
Permanent · JOHANNESBURG
HTNK
High-End Fashion/Denim Designer
Permanent · JOHANNESBURG
H&M
Talent Acquisition Specialist
Permanent · CAPE TOWN
ADIDAS
Specialist Franchise Excellence - Ems Africa Export
Permanent · CAPE TOWN
LOVISA
Full Time Team Member | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
LOVISA
Store Manager | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
By
Reuters API
Published
Jan 23, 2018
Download
Download the article
Print
Text size

J&J reports quarterly loss on $13.6 billion tax charge

By
Reuters API
Published
Jan 23, 2018

Johnson & Johnson reported a quarterly loss due to a $13.6 billion (9.75 billion pounds) charge related to the new U.S. tax law, but beat adjusted quarterly profit estimate on strong demand for new cancer drugs and gains from its Actelion acquisition.


Photo: Neutrogena


A number of U.S. companies with sizable international operations are booking huge charges related to the new tax law, which encourages companies to repatriate their offshore earnings.

International operations accounted for nearly a half of J&J's total fourth-quarter sales of $20.20 billion, which was up 11.5 percent from a year earlier.

Higher sales of cancer drugs Darzalex and Imbruvica, and psoriasis drug Tremfya helped drive a 17.6 percent rise in pharmaceuticals sales to $9.68 billion, the company said.

High-margin treatments from Actelion, which was acquired by J&J for $30 billion in 2016, accounted for about a quarter of the pharmaceutical unit's sales growth.

Sales at J&J's consumer products unit, which makes Band-Aids, Neutrogena beauty products and Tylenol, rose 3.1 percent to $3.5 billion.

The net loss was $10.71 billion, or $3.99 per share, for the latest quarter, compared with a profit of $3.81 billion, or $1.38 per share, a year earlier.

Excluding items, J&J earned $1.74 per share, slightly above the analysts' average estimate of $1.72 per share, according to Thomson Reuters I/B/E/S.

J&J forecast an adjusted profit of $8 to $8.20 per share on revenue of $80.6 billion to $81.4 billion for 2018.
Analysts on average were expecting a profit of $7.87 per share and revenue of $80.7 billion.

Shares of the company were up marginally in premarket trading.

 

© Thomson Reuters 2024 All rights reserved.