Johnson & Johnson | $JNJ Stock | Shares Soar As Profit & Revenue Beat Street View

6738
Johnson and Johnson Logo

Johnson & Johnson (NYSE: JNJ) 

 

Shares of Johnson & Johnson started regular trading with a gain of $3.22, or 2.58% to $127.91 on Tuesday.

The surge came after the New Brunswick, New Jersey-based company reported its second-quarter earnings that exceeded analyst expectations on both bottom and bottom lines.

J&J attributed its quarterly profit jump to a revenue rise in prescription medicines. The health care products maker has, however, lowered both its full-year revenue and earnings forecast.

JNJ Earnings & Outlook

The health care conglomerate posted a net income of $3.95 billion, or $1.45 per share, compared with $3.83 billion, or $1.40 per share, in the second quarter of last year.

Adjusted for one-time items, earnings came in at $5.7 billion, or $2.10 EPS, ahead of analyst projections of $2.07 per share.

Total sales hit $20.8 billion, above expectations of $20.39 billion, and up 10.6% from the year-ago quarter.

Looking ahead, the company expects its full-year sales to be between $80.5 billion and $81.3 billion, from the previous forecast of $81 billion and $81.8 billion. Excluding currency, the new guidance represents growth of between 4.5% and 5.5%.

Johnson & Johnson also updated its full-year adjusted earnings outlook from $8.00 and $8.20 per share, to between $8.07 and $8.17 per share. This signals an operational growth of between 8.5% and 9.9%.

Johnson & Johnson CEO Comments

Our strong second-quarter results reflect double-digit growth in our Pharmaceutical business and the accelerating sales momentum in our Medical Devices business, driven by the continued growth of our market leading products and strategic new launches. We remain focused on investing in innovation and meeting the needs of our customers by delivering innovative products and solutions that position the company to deliver long-term, sustainable growth. Our talented J&J colleagues are united in our efforts to address some of the most critical health and consumer needs of people around the world,said Alex Gorsky, the company’s Chairman and Chief Executive Officer.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company that engages in the research, development, manufacture, and sale of health care products. The company operates through the following segments: Pharmaceutical, Consumer, and Medical devices.

The Pharmaceutical segment concentrates on therapeutic areas, including cardiovascular and metabolism, neuroscience, immunology, oncology, and pulmonary hypertension, as well as infectious diseases and vaccines.

The Consumer segment comprises of products used in the women’s health, baby care, over-the-counter pharmaceutical, beauty and oral care, as well as wound care markets.

The Medical devices segment includes products used in the fields of cardiovascular, surgery, orthopedic, eye health and diabetes care.

J&J’s research facilities are located in the US, UK, Belgium, Germany, France, Netherlands, Switzerland, Canada, Brazil, China, India, Israel, and Japan. The company has more than 230 operating companies that help it in conducting businesses worldwide. It competes with Pfizer, Inc.

Johnson & Johnson was founded in 1886 by Edward Mead Johnson Sir, Robert Wood Johnson I and James Wood Johnson. –Reuters

 

IMAGE CREDIT

NO COMMENTS