JNJ Stock Raises Forecast for Full Year
New York, NY — Healthcare giant Johnson & Johnson (NYSE:JNJ) reported a better-than-expected rise in quarterly sales, helped by strength in its pharmaceuticals business.
Johnson & Johnson raised its 2016 sales and earnings forecast and reported quarterly results that beat Wall Street estimates. Net earnings and diluted earnings-per-share for the second quarter of 2016 were $4.0 billion and $1.43 billion, respectively. (Source: “Johnson & Johnson Announces Quarterly Dividend,” PR Newswire, July 18, 2016)
“We continue to see good momentum through the first half of 2016, delivering solid results in the second quarter, supported by strong underlying growth across our enterprise,” said Alex Gorsky, chairman and chief executive officer. “We saw notable strength in our Pharmaceuticals business due to the continued success of new products, and also achieved significant clinical milestones, advancing our robust pipeline.” (Source: Ibid.)
The company increased its sales guidance for the full-year 2016 to $71.5 billion–$72.2 billion, up from the from $71.2 billion–$71.9 billion previously estimated. Additionally, the company increased its adjusted earnings guidance for full-year 2016 to $6.63–$6.73 per share, the company said on its web site. (Source: “Johnson & Johnson Reports 2016 Second-Quarter Results,” July 19, 2016)