(Corrects third paragraph to show Elan gain is not a special
July 16 Johnson & Johnson reported
higher-than-expected second-quarter earnings as strong sales of
prescription drugs and medical devices more than offset anemic
growth of its consumer products.
The diversified healthcare company said on Tuesday that it
earned $3.8 billion, or $1.33 per share. That compared with
$1.41 billion, or 50 cents per share, in the year-earlier
period, when J&J took $2.2 billion in charges for the writedown
of research assets, litigation expenses and merger-related
J&J earned $1.48 per share, excluding special items such as
expenses from litigation and an acquisition. Analysts on average
expected $1.39, according to Thomson Reuters I/B/E/S.
Revenue rose 8.5 percent to $17.88 billion, while Wall
Street had been expecting $17.71 billion.
J&J raised its full-year earnings forecast to between $5.40
and $5.47 per share from an earlier range of $5.35 to $5.45. It
earned $5.10 per share last year.
Shares of J&J were up 0.6 percent at $90.94 in trading
before the market opened.
(Reporting by Ransdell Pierson and Caroline Humer; Editing by
Lisa Von Ahn)