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Johnson & Johnson surpasses second-quarter earnings forecast and raises guidance for the full year

Johnson & Johnson Stock
JNJ,
+ 0.94%

Pre-market trading on Wednesday rose 1.1% after consumer and health firms outperformed second-quarter earnings forecasts and raised guidance for the full year. According to the company, net earnings increased from $ 3,626 million ($ 1.36 per share) to $ 6,278 million ($ 2.35 per share) in the year-ago quarter. Adjusted earnings per share exceeded the FactSet consensus of $ 2.29 to $ 2.48. Revenue was $ 23,312 million, up 27.1% from $ 18,336 million, also above the $ 22.49 billion FactSet consensus. CEO Alex Gorksy said sales were strong across the company’s medical device, consumer health and pharmaceutical businesses. Consumer health sales were up 13.5% to $ 3,735 million, pharmaceutical sales were up 17.2% to $ 12,599 million, and medical device sales were up 62.7% to $ 6,978 million. The company has raised its guidance for the full year and expects adjusted EPS to range from $ 9.30 to $ 9.45 in the previous guidance to $ 9.50 to $ 9.60. Sales, including the COVID-19 vaccine, are expected to be between $ 92.5 billion and $ 93.3 billion, while previous guidance was between $ 89.3 billion and $ 90.3 billion.Dow Jones Industrial Average rises 7% year-to-date
DJIA,
+ 1.62%

It has increased by 12.8%.

Johnson & Johnson surpasses second-quarter earnings forecast and raises guidance for the full year

Source link Johnson & Johnson surpasses second-quarter earnings forecast and raises guidance for the full year

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