Johnson & Johnson posts bumper second quarter result
Healthcare giant Johnson & Johnson lifted its earnings guidance after a strong second quarter result.
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The company raised its earnings guidance for the full 2015 year from $6.04-$6.19 to $6.10 - $6.20 per share.
Johnson & Johnson posted profit for the quarter of $4.52bn, up from $4.33bn. It posted earnings per of $1.61, up about 6% from $1.52 per share compared with the same period last year.
Second quarter sales amounted to $17.8bn, which was 8.8% less than the year before.
The company said negative currency impact of 9.3% forced worldwide consumer sales to be down 7% compared with the prior year, at $3.5bn for the second quarter.
Johnson & Johnson highlighted over-the-counter products including ZYRTEC® allergy medications and TYLENOL® analgesics; international feminine protection products; and LISTERINE® oral care products as big contributors to sales.
Chief executive Alex Gorsky said the company’s diverse portfolio and scale had enabled the performance.
“Our passion to deliver transformational new medicines and products reflects the ongoing commitment of our dedicated employees to improve health and well-being,” he said.