J&J posts quarterly loss on tax-related charge

(Reuters) – Johnson & Johnson reported a huge quarterly loss on Tuesday, as the healthcare company booked $13.6 billion in charge related to the new U.S. tax law passed in December.

The company’s net loss was $10.71 billion, or $3.99 per share, in the fourth quarter, compared with a profit of $3.81 billion, or $1.38 per share, a year earlier.

Sales rose to $20.20 billion from $18.12 billion.

(Reporting by Divya Grover in Bengaluru; Editing by Anil D’Silva)

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