Johnson & Johnson (NYSE: JNJ) reported its second-quarter financial results before the markets opened on Tuesday. The health care giant said that it had $2.10 in earnings per share (EPS) and $20.83 billion in revenue, while consensus estimates had called for $2.07 in EPS and revenue of $20.39 billion. The same period of last year reportedly had EPS of $1.83 on $18.84 billion in revenue.
Worldwide Consumer sales totaled $3.5 billion for the latest quarter, representing an increase of 0.7% from the prior year. Domestic sales decreased 0.7%, international sales increased 1.9%.
Worldwide Pharmaceutical sales of $10.4 billion for the second quarter represented an increase of 19.9% from the prior year, with an operational increase of 17.6% and a positive impact from currency of 2.3%. Domestic sales increased 17.7%; international sales increased 22.9%.
Worldwide Medical Devices sales of $7.0 billion for the second quarter 2018 represented an increase of 3.7% versus the prior year consisting of an operational increase of 1.9% and a positive currency impact of 1.8%.
Johnson & Johnson also updated its full-year guidance. The company now expects to see EPS in the range of $8.07 to $8.17 and revenues between $80.5 billion and $81.3 billion. The consensus estimates are $8.12 in EPS and revenue of $81.47 billion for the year.
Alex Gorsky, board chair and chief executive, commented:
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.
The shares closed trading Monday at $124.69 apiece, with a consensus analyst price target of $141.95 and a 52-week range of $118.62 to $148.32. Following the announcement, the stock was up less than 1% at $125.60 in early trading indications Tuesday.
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