Johnson & Johnson (JNJ) Volatile as Q2 Results Lower, But Better Than Street Estimates

Johnson & Johnson (NYSE: JNJ) shares are volatile this morning following its Q2 earnings report, which was released before the market opened. After gapping about 1% higher, the stock fell into negative territory about 20 minutes after the open, but is now once again well into the black. Shares of JNJ are currently up 1.4% to $58.54.

The world's largest healthcare company reported quarterly results which came in lower than during the same period last year, but above analysts' estimates. Sales were $15.2 billion, down 7.4% from Q208, but better than the $15.02 billion consensus. Adj-EPS for the quarter were $1.15, down 2.5% from last year, but 4 cents better than what Wall Street had been expecting.

Johnson & Johnson also reaffirmed its previously issued FY09 EPS guidance of $4.45-$4.55. The Street is currently looking for yearly EPS of $4.51.

UPDATE: Click here to see some highlights from Johnson & Johnson's Q2 conference call.

You May Also Be Interested In

• Piper Sandler: PFA survey is most positive for Medtronic, Inc. (MDT)
• Sigma Lithium resumes full operations after signing TAC agreement
• Wolfspeed (WOLF) Misses Q4 EPS by 174c; Offers Guidance