J&J profit tops forecast as it mulls unit sale

City A.M. Reporter

SON & Johnson reported better-than-expected fourth-quarter earnings yesterday, due in part to a favourable tax rate, and said it is considering selling a $2bn (£1.2bn)-a-year diagnostics business.

J&J said it earned $1.19 per share, excluding one-time items, in the fourth quarter, beating analysts’ average estimate of $1.17. The firm said it may sell Ortho Clinical Diagnostics, which makes tests to determine blood type.