Johnson & Johnson beat earnings expectations in the final quarter of 2022 even as a strong dollar and sinking COVID-19 vaccine sales hurt revenue.
The health care giant said Tuesday that fourth-quarter earnings slipped 26% to $3.52 billion and revenue declined 4.4% to $23.71 billion.
Adjusted earnings totaled $2.35 per share.
Analysts expected earnings of $2.23 per share on $23.9 billion in revenue, according to FactSet.
For 2023, the company expects adjusted earnings of between $10.40 and $10.60 per share, a range that starts off well above Wall Street expectations.
Analysts forecast earnings of $10.33 per share.