Johnson & Johnson Posts Weaker-Than-Expected Profit on Billions in Legal Costs

Key Takeaways Johnson & Johnson's third-quarter profit fell sharply due to billions in one-time expenses like legal costs. The company's adjusted profit beat estimates, as did revenue. The pharmaceutical and medical device company also lifted its full-year sales outlook, but lowered profit projections to account for a recently completed acquisition. Johnson & Johnson (JNJ) posted better sales than expected for the third quarter, but profit fell short of analysts' estimates as the company reported billions i ...