Johnson & Johnson Slides By With Q2 Earnings
Johnson & Johnson retreated though it reported better than expected second-quarter before the markets opened on Tuesday.
When Johnson & Johnson (NYSE: JNJ | JNJ Price Prediction) reported its most recent quarterly results before the markets opened on Tuesday, the pharmaceutical giant said it had $2.58 in earnings per share (EPS) and $20.6 billion in revenue for its second quarter. The consensus estimates had called for $2.46 in EPS and $20.29 billion in revenue. In the same period of last year, it posted EPS of $2.10 on $20.83 billion in revenue.
Consumer worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 2.3% year over year to $3.54 billion. This was driven by beauty products and over-the-counter products, including upper respiratory and analgesic products.
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 4.4% to $10.53 billion.
Worldwide Medical Devices operational sales, excluding the net impact of acquisitions and divestitures, grew 3.2% to $6.49 billion. This was driven by the growth of electrophysiology products in the Interventional Solutions business, endocutters and international energy products in the Advanced Surgery business.
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Alex Gorsky, board chair and chief executive, commented:
We delivered solid second-quarter underlying sales growth and strong earnings growth that enables us to make investments in innovation to accelerate performance in each of our businesses. Our pipelines continue to progress with the launch of new products and several regulatory submissions and approvals, which positions us well to deliver the next wave of transformational products and solutions. I am proud of our talented colleagues across Johnson & Johnson who continue to deliver significant healthcare advances to improve the lives of patients and consumers around the world.
Shares of Johnson & Johnson traded down 1.5% to $132.58 Tuesday morning, in a 52-week range of $121.00 to $148.99. The consensus price target is $149.17.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
