Johnson & Johnson (JNJ) Issues Q1 'Beat-and-Raise' Led By Pharma Business
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Price: $88.09 +0.73%
Revenue Growth %: +8.7%
Financial Fact:
Provision for taxes on income (Note 5): 764M
Today's EPS Names:
LBIX, ESEA, ISS, More
Revenue Growth %: +8.7%
Financial Fact:
Provision for taxes on income (Note 5): 764M
Today's EPS Names:
LBIX, ESEA, ISS, More
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Johnson & Johnson (NYSE: JNJ) shares are up following better-than-expected first-quarter results and the company's raised guidance that is set ahead of the Street.
The company reported first-quarter earnings of $1.35 per share, nine cents better than the analyst estimate of $1.26 per share.
Revenue for JNJ rose 3.5 percent to $16.2 billion in the three-month period ended March 31, topping the market consensus of $15.83 billion.
Domestic sales fell 0.6 percent in the period, while revenue from international markets rose 7.3 percent.
"Our pharmaceuticals business demonstrated strong growth this quarter led by the performance of recently launched products. We delivered solid earnings while making the investments necessary to advance the robust pipelines across our businesses," said William C. Weldon, Chairman and Chief Executive Officer.
Looking forward, the company raised its full year 2011 earnings guidance to $4.90 - $5.00 per share, ahead of the estimate of $4.83 per share. The company had previously guided for full year earnings of $4.80 - $4.90 per share.
Shares of JNJ are up 2.13 percent to $61.75 in premarket trade on Tuesday.
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The company reported first-quarter earnings of $1.35 per share, nine cents better than the analyst estimate of $1.26 per share.
Revenue for JNJ rose 3.5 percent to $16.2 billion in the three-month period ended March 31, topping the market consensus of $15.83 billion.
Domestic sales fell 0.6 percent in the period, while revenue from international markets rose 7.3 percent.
"Our pharmaceuticals business demonstrated strong growth this quarter led by the performance of recently launched products. We delivered solid earnings while making the investments necessary to advance the robust pipelines across our businesses," said William C. Weldon, Chairman and Chief Executive Officer.
Looking forward, the company raised its full year 2011 earnings guidance to $4.90 - $5.00 per share, ahead of the estimate of $4.83 per share. The company had previously guided for full year earnings of $4.80 - $4.90 per share.
Shares of JNJ are up 2.13 percent to $61.75 in premarket trade on Tuesday.
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