Filing Flows › Johnson & Johnson (JNJ) › Q1 2025
Johnson & Johnson (JNJ) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 23, 2025
Johnson & Johnson (JNJ) reported revenue of $21.9B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -3% from the quarter before. Operating margin was 62.3%, net earnings $11.0B (50.2% of revenue).
Johnson & Johnson, Q1 2025: revenue $21.9B (+2% year over year), operating margin 62.3%, net earnings $11.0B, operating cash flow $4.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.9B | -3% | +2% |
| Gross profit | $14.5B | -6% | -2% |
| Operating profit | $13.6B | +251% | +267% |
| Net earnings | $11.0B | +221% | +238% |
| Operating cash flow | $4.2B | -40% | +14% |
| Free cash flow | $3.4B | -37% | +19% |
What changed
Revenue was $21.9B in Q1 2025, up 2% year over year and down 3% from the previous quarter. Innovative Medicine was the largest line at 63% of revenue. Innovative Medicine added $0.31B year over year (up 2%), 61% of the total change.
Gross margin was 66.4%, down 3.2 points from a year earlier. Operating profit was $13.6B, a 62.3% margin (up 44.9 points year over year). Of the extra revenue versus a year earlier, 1945% reached operating profit, above the 17% margin then. Operating expenses fell 92% while revenue rose 2%. Net earnings were $11.0B, up 238% year over year. The effective tax rate was 19.3%.
Operating cash flow was $4.2B (up 14% year over year), 38% of net earnings. Non-cash charges added back $1.8B of depreciation and amortization and $0.29B of share-based compensation. Working capital and other items used $8.9B. Capital expenditures of $0.80B left free cash flow of $3.4B.
Questions
What was Johnson & Johnson's revenue in the first quarter 2025?
Johnson & Johnson (JNJ) reported revenue of $21.9B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -3% from the quarter before.
Was Johnson & Johnson profitable in the first quarter 2025?
Operating profit was $13.6B (62.3% of revenue) and net earnings $11.0B.
Source: Johnson & Johnson 10-Q on SEC EDGAR.