Johnson & Johnson has shared its financial results for the third quarter of 2015.
The personal care company suffered from the effects of currency fluctuations, with international sales decreasing 13.7% despite a 2.1% operational growth. Currency had a negative impact of 15.8% on its performance in international markets.
Skin care products Aveeno and Neutrogena were said to have a positive impact on the company, alongside oral care products such as Listerine.
Overall, sales at the company totaled $17.1bn – a 7.4% decrease on the same period last year. However, this decrease was still driven by currency, with operational sales increasing 3.8%. Alex Gorsky, Chairman and Chief Executive Officer at Johnson & Johnson, commented: "New and core products drove solid underlying growth for Johnson & Johnson in the quarter. Consistent with the plans we've laid out for the year, we're focusing our portfolio and are advancing our innovation agenda to expand our leadership position in key categories while seeking new opportunities for growth. Our dedicated employees are committed to improving healthcare and making a difference in the lives of patients and consumers worldwide."
Johnson & Johnson has also announced that its Board of Directors has approved the resale of up to $10bn worth of common company stock. Diluted earnings per share for the third quarter were $1.20. The company increased its adjusted earnings guidance for the full year 2015 to $6.15-$6.20 per share.
