Yesterday Johnson & Johnson (NYSE:JNJ) gave its third-quarter earnings results. As it has been over the last couple years, the company's pharmaceutical division has outperformed, with double-digit revenue growth, while the devices business and consumer business plodded along with revenue growth in the low single-digits. This article looks at J&J's latest quarter, it's three year growth plan, and, as always valuation.
Strong results
Results were in line with some fairly optimistic expectations: Sales increased 4.3% operationally. Without the Hepititus C divestiture, sales would have increased 5.9% year-over-year. For the first time in awhile, currency has ceased to be a strong negative headwind on earnings.
