Johnson & Johnson (NYSE:JNJ) has reported Q3 FY23 adjusted earnings of $2.66 per share, up 19.3% Y/Y and beating the consensus of $2.51.

Sales increased 6.8% to $21.35 billion, beating the consensus of $21.04 billion, with operational growth of 7.5 and adjusted operational growth of 6.4%. Operational growth, excluding the COVID-19 Vaccine, was 9%. Pharmaceutical segment sales increased by 5.1% to $13.89 billion.

Also Read: Johnson & Johnson Sees Legal Win In Talc Powder Cancer Claims.

Darzalex (cancer drug) and Stelara (Crohn's disease) accounted for $2.5 billion and $2.8 billion in Q3.

MedTech sales increased 10% to $7.45 billion. MedTech worldwide operational sales grew 10.4%, with the acquisition of Abiomed contributing 4.6%.

In August, Johnson & Johnson unveiled 2023 projections, predicting double-digit profit growth after its recent spinoff of consumer health company Kenvue Inc (NYSE:KVUE).

The company's outlook provides an early glimpse into the performance of its standalone drugs and medical device businesses.

Guidance: Johnson & Johnson expects FY23 adjusted profit of $10.07-$10.13 per share, compared with its previous outlook of $10.00-$10.10 per share and the consensus of $10.03.

Johnson & Johnson sees FY23 sales of $83.6 billion–$84 billion compared to the prior range of $83.2 billion–$84 billion and consensus of $84.53 billion.

Price Action: JNJ shares are up 1.35% at $159.65 during the premarket session on the last check Tuesday.