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Johnson & Johnson
reported second-quarter adjusted earnings of $2.59 a share, topping analysts’ estimates, however the healthcare large trimmed its fiscal-year adjusted earnings outlook.
Johnson & Johnson
(ticker: JNJ) shares have been up 0.6% in premarket buying and selling Tuesday to $175.35.
Gross sales within the quarter rose 3% to $24 billion. Pharmaceutical gross sales rose 6.7% to $13.3 billion. Income from Covid-19 vaccines of $544 million beat Wall Road estimates.
Analysts surveyed by FactSet anticipated the corporate to earn $2.54 a share on income of $23.8 billion. A 12 months earlier, Johnson & Johnson earned $2.48 a share on income of $23.3 billion.
The world’s largest healthcare firm mentioned Tuesday it anticipated adjusted earnings for the complete 12 months of $10 to $10.10 a share, down from earlier steering of $10.15 to $10.35 a share. Gross sales for the 12 months have been forecast at $93.3 billion to $94.3 billion vs. earlier expectations of $94.8 billion to $95.8 billion.
The corporate cited a stronger greenback for the adjustment to its 2022 outlook.
Johnson & Johnson was considered one of Barron’s inventory picks for 2022. For the reason that starting of the 12 months, JNJ shares have risen nearly 1.9%. The
S&P 500
has dropped 19.6% this 12 months.
Write to Joe Woelfel at joseph.woelfel@barrons.com
