Johnson & Johnson (NYSE: JNJ) delivered an encouraging set of quarterly results on Tuesday, which included a promising -- albeit limited -- update on its coronavirus vaccine candidate. For the sprawling company's fourth quarter of fiscal 2020, revenue came in at just under $22.48 billion, which was more than 8% higher than in the same quarter of last year. Non-GAAP (adjusted) net income, though, went in the opposite direction, slipping by 1% to almost $4.97 billion, or $1.86 per share. Image source: Getty Images. Both metrics were still good enough to top the average analyst estimates of $21.67 billion for revenue and $1.82 for per-share adjusted net profit. Of the company's two key divisions, pharmaceuticals showed better growth, with global sales increasing 8.4% year-over-year. Johnson & Johnson attributed this to drugs like inflammation medication Stelara and multiple myeloma treatment Darzalex. As for the consumer health unit, its sales rose by 3% on the back of improvements in over-the-counter products. The company cited some of its classic products, such as Tylenol and Listerine, as drivers of this growth. While Johnson & Johnson didn't go into detail about its JNJ-78436735 coronavirus vaccine as it's still in a late-stage clinical trial, it did say, "We continue to progress our COVID-19 vaccine candidate and look forward to sharing details from our Phase 3 study soon." If it's proven to be sufficiently efficacious and it's granted authorization from regulators, JNJ-78436735 could be a game-changer, as it is potentially a one-dose vaccine. The vaccinations currently authorized by the U.S. and European health authorities require both an initial shot and a booster. On Tuesday, Johnson & Johnson shares rose by 2.7%, while the S&P 500 index slumped by 0.2% 10 stocks we like better than Johnson & JohnsonWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Johnson & Johnson wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.Source