Courtesy of Benzinga.
Johnson & Johnson (NYSE: JNJ) reported a 12% rise in its first-quarter earnings.
For the year, Johnson & Johnson lifted its earnings forecast by $0.02 per share to $5.07 to $5.17 per share.
J&J’s quarterly profit surged to $3.9 billion, or $1.41 per share, from $3.5 billion, or $1.25 per share, in the year-ago epriod. Excluding special items, the company earned $1.37 per share. Its revenue dropped by $34,000 to $16.1 billion.
Analysts were expecting earnings of $1.35 per share on revenue of $16.26 billion.
J&J’s domestic sales dropped 5.1%, while international sales climbed 4.1%. Its gross margin declined to 69.6% from 70.5%
J&J’s shares gained 0.59% to $64.36 in pre-market trading.
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