Johnson & Johnson | 10-Q: Q3 2025 Earnings Report

Johnson & Johnson reported Q3 2025 worldwide sales of $24.0 billion, up 6.8% year-over-year, with operational growth of 5.4% and a positive currency impact of 1.4%. The Innovative Medicine segment grew 6.8% to $15.6 billion, while MedTech increased 6.8% to $8.4 billion. Net earnings surged to $5.2 billion from $2.7 billion in Q3 2024.The company's strong performance was driven by key products including DARZALEX with 21.7% growth, CARVYKTI up 83.5%, and TREMFYA increasing 41.3%. In MedTech, growth was led by Cardiovascular up 12.6% and Vision rising 7.7%. The company reversed approximately $7 billion of previously accrued talc reserves in the first nine months of 2025.Looking ahead, J&J announced plans to separate its Orthopaedics business within 18-24 months. The company maintained its strong market position despite STELARA sales decline due to biosimilar competition. The worldwide effective tax rate increased to 21.5% from 16.9%, primarily due to the implementation of the One Big Beautiful Bill Act which modified corporate tax codes.

Johnson & Johnson reported Q3 2025 worldwide sales of $24.0 billion, up 6.8% year-over-year, with operational growth of 5.4% and a positive currency impact of 1.4%. The Innovative Medicine segment grew 6.8% to $15.6 billion, while MedTech increased 6.8% to $8.4 billion. Net earnings surged to $5.2 billion from $2.7 billion in Q3 2024.The company's strong performance was driven by key products including DARZALEX with 21.7% growth, CARVYKTI up 83.5%, and TREMFYA increasing 41.3%. In MedTech, growth was led by Cardiovascular up 12.6% and Vision rising 7.7%. The company reversed approximately $7 billion of previously accrued talc reserves in the first nine months of 2025.Looking ahead, J&J announced plans to separate its Orthopaedics business within 18-24 months. The company maintained its strong market position despite STELARA sales decline due to biosimilar competition. The worldwide effective tax rate increased to 21.5% from 16.9%, primarily due to the implementation of the One Big Beautiful Bill Act which modified corporate tax codes.