Johnson & Johnson has reported its financial results for the third quarter of 2025, showing an increase in both sales and net earnings compared to the same period last year. The company also raised its full-year 2025 sales outlook.
Joaquin Duato, Chairman and Chief Executive Officer of Johnson & Johnson, said, “Johnson & Johnson delivered another strong performance in the third quarter fueled by the depth and strength of our portfolio and significant progress across our pipeline. With a sharpened focus on the six priority areas of Oncology, Immunology, Neuroscience, Cardiovascular, Surgery and Vision, Johnson & Johnson is in a new era of accelerated growth and innovation, with pioneering treatments that will continue to transform lives.”
For the third quarter ending September 2025, reported sales reached $23.99 billion, up from $22.47 billion in Q3 2024—a 6.8% increase. Net earnings were $5.15 billion compared to $2.69 billion last year, representing a 91.2% rise. Diluted earnings per share (EPS) also grew by 91%, reaching $2.12.
On a non-GAAP basis, adjusted net earnings were $6.80 billion versus $5.88 billion in Q3 2024—an increase of 15.7%. Adjusted diluted EPS was $2.80 compared to $2.42 a year ago.
Regionally, U.S. sales rose by 6.2% while international sales increased by 7.6%. Both segments—Innovative Medicine and MedTech—reported operational sales growth of approximately 5-6%.
In Innovative Medicine, worldwide operational sales grew by 5.3%, with contributions from products such as DARZALEX, CARVYKTI, ERLEADA and RYBREVANT/LAZCLUZE in Oncology; TREMFYA and SIMPONI/SIMPONI ARIA in Immunology; and SPRAVATO in Neuroscience.
The MedTech segment saw worldwide operational sales grow by 5.6%, driven primarily by electrophysiology products along with Abiomed and Shockwave devices in Cardiovascular care.
Looking ahead to full-year guidance for 2025, Johnson & Johnson projects estimated reported sales between $93.5 billion and $93.9 billion at mid-point growth rates around 5-6%. Adjusted operational EPS is expected to be between $10.63–$10.73.
During the quarter, several regulatory milestones were achieved:
- The U.S Food and Drug Administration (FDA) approved TREMFYA (guselkumab) for pediatric plaque psoriasis and active psoriatic arthritis.
- TREMFYA received approval for subcutaneous induction therapy for adults with ulcerative colitis.
- The European Commission approved DARZALEX (daratumumab) as a treatment for high-risk smouldering multiple myeloma.
- IMBRUVICA (ibrutinib) was approved as targeted therapy for previously untreated mantle cell lymphoma eligible for stem cell transplant.
- INLEXZO (gemcitabine intravesical system) was approved by the FDA for certain bladder cancers.
Other notable developments included new data releases on various products addressing major depressive disorder, Alzheimer’s research advancements showcased at AAIC 2025, as well as product launches such as VIRTUGUIDE AI-Powered Patient-Matched Lapidus System aimed at reducing complexity in bunion surgery.
John Morikis was elected to the Board of Directors during this period.
Johnson & Johnson will hold a conference call with investors regarding these results today at 8:30 a.m., Eastern Time via webcast on its website.
The company emphasized that forward-looking statements are subject to risks detailed in their filings with the Securities and Exchange Commission.