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UPDATE: Johnson & Johnson Posts 12% Rise In Q1 Earnings, Lifts Forecast

By Insider Scoop
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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.

(c) 2012 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.


For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

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