J&J forecasts 2016 sales below analysts’ estimates
(Reuters) – Johnson & Johnson forecast 2016 sales below analysts' estimate and reported a 2.4 percent drop in sales for the fourth quarter, hurt by a strong dollar. Analysts on average were expecting sales of $71.88 billion, according to Thomson Reuters I/B/E/S. The dollar index , which measures the currency against a basket of six other major currencies, rose 9 percent in 2015, after rising 13 percent in 2014. Sales fell to $17.81 billion, but was largely in-line with the average analyst estimate of $17.88 billion.
