Johnson & Johnson (NYSE:JNJ) lowered its full-year earnings outlook on Tuesday despite posting better-than-expected financials for Q3 2024, driven mainly by its pharma unit even as its MedTech division fell short of forecasts.

Despite a robust increase in sales, Johnson & Johnson (JNJ) faces earnings pressure due to litigation and market headwinds.

Johnson & Johnson shares rose 0.7% in premarket trades Tuesday after the drugmaker reported better-than-expected third-quarter sales and raised full-year revenue guidance.

It marks J&J's first quarterly results since the company completed the separation from its consumer health spinoff Kenvue in August.

Key Takeaways Johnson & Johnson shares advanced Tuesday after the pharmaceutical and medical device company posted better third-quarter sales and adjusted profit than expected.Net income fell sharply due to billions in one-time expenses like legal costs.