Johnson & Johnson reports mixed earnings, strong consumer demand

Yahoo Finance’s Anjalee Khemlani joins the Live show to discuss fourth-quarter earnings for Johnson & Johnson.

Video transcript

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BRIAN SOZZI: All right. Ahead of the opening bell on Wall Street, we have a lot of earnings to cover, so let's get back into some of that fun action. Johnson & Johnson coming in with mixed results as sales fell over 4%. But the company issued some strong guidance for the year. Let's bring in Yahoo Finance's senior health care reporter Anjalee Khemlani for more analysis here. Anjalee?

ANJALEE KHEMLANI: That's right, Brian. So Q4 was a bit of a struggle there, in part because of some of the external factors. We know of course, the stronger dollar really did push some companies into the negative there. We also saw high demand, though, from the consumer side on products like children's Tylenol and Motrin. And so that really helped buoy the company. They are looking at what the impact will be moving forward, especially knowing that this consumer brand is going to be spun off into Kenvue.

And looking forward for the year, though-- strong outlook, especially as pharma is getting a boost-- the pharma sector and medical devices in general. They expect a strong outlook, considering that demand is starting to pick up again, especially for some of their blockbuster drugs. So that's really where the company stands right now in terms of what the outlook is going to be. And of course, we do know that they are winding down their COVID-19 vaccine, just as the FDA is about to meet this week to talk about what the annual strategy is going to be, including for J & J's vaccine moving forward.

JULIE HYMAN: Thanks so much. Appreciate it, Anjalee.