Johnson & Johnson Tops Profit Estimates but Trims Full-Year Outlook
Barrons2022-07-19
Johnson & Johnson reported second-quarter adjusted earnings of $2.59 a share, topping analysts’ estimates, but the healthcare giant trimmed its fiscal-year adjusted earnings outlook.
Johnson & Johnson shares rose 1.3% after posting financial reports.
Analysts surveyed by FactSet expected the company to earn $2.54 a share on revenue of $23.8 billion. A year earlier, Johnson & Johnson earned $2.48 a share on revenue of $23.3 billion.
The world’s largest healthcare company said Tuesday it expected adjusted earnings for the full year of $10 to $10.10 a share, down from previous guidance of $10.15 to $10.35 a share.
Johnson & Johnson was one of Barron’s stock picks for 2022. Since the beginning of the year, JNJ shares have risen almost 1.9%. The S&P 500 has dropped 19.6% this year.
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