Johnson & Johnson earnings beat

The company also announced a 3.1% increase in its quarterly dividend, reflecting its confidence in long-term growth.

Sales in the Innovative Medicine division rose by over 11%, driven by the success of its oncology portfolio.

J&J has been working to diversify its revenue streams as Stelara faces increasing competition from biosimilars.

Despite the positive results, the company continues to face legal challenges related to its talc products and an ongoing opioid settlement.