UPDATE: Johnson & Johnson Posts Higher Q4 Earnings

Johnson & Johnson JNJ reported a 37% rise in its fourth-quarter earnings. For the year, Johnson & Johnson expects earnings of $5.75 to $5.85 per share, versus analysts' estimates of $5.85 per share. J&J's quarterly profit surged to $3.52 billion, or $1.23 per share, from $2.57 billion, or $0.91 per share, in the year-ago period. Excluding one-time items, its adjusted earnings came in at $1.24 per share. Its revenue climbed 4.5% to $18.36 billion. However, analysts were projecting a profit of $1.20 per share on revenue of $17.95 billion. Johnson & Johnson shares closed at $95.06 on Friday.