J&J's profit beats estimates on sales of new drugs
Jan 20 (Reuters) - Johnson & Johnson reported a slightly better-than-expected quarterly profit as surging sales of new drugs and mainstay older brands offset weak demand for medical devices and consumer healthcare products.
The company's earnings fell to $2.52 billion, or 89 cents per share, in the fourth quarter from $3.52 billion, or $1.23 per share, a year earlier.
Excluding items, J&J earned $1.27 per share.
Total sales fell 0.6 percent to $18.25 billion.
Analysts on average had expected a profit of $1.26 per share and sales of $18.55 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Ransdell Pierson and Vidya L Nathan; Editing by Kirti Pandey)
