Investing.com -- Johnson & Johnson (NYSE: JNJ) reported its first-quarter results on Tuesday, exceeding analyst expectations.

Adjusted earnings per share came in at $2.70, beating the consensus estimate of $2.68 by $0.02. Revenue reached $24.1 billion, surpassing the $23.61 billion analyst estimate and representing a 9.9% increase from $21.9 billion in the same quarter last year.

The company raised its full-year 2026 guidance, now projecting adjusted EPS of $11.45 to $11.65, with a midpoint of $11.55 matching the analyst consensus of $11.55. Johnson & Johnson expects reported sales of $100.3 billion to $101.3 billion, with a midpoint of $100.8 billion, slightly above the consensus estimate of $100.65 billion. The updated guidance represents an increase from the company's January outlook. Shares are down 0.2% following the announcement.

"Johnson & Johnson had a strong start to 2026 and is delivering on its promise for a year of accelerated growth and impact," said Joaquin Duato, Chairman and Chief Executive Officer. "The depth and strength of our portfolio and pipeline is unrivaled and our relentless focus on innovation delivered multiple game-changing approvals this quarter."

The Innovative Medicine segment led growth with worldwide operational sales up 7.4%, driven by DARZALEX, CARVYKTI, ERLEADA, and RYBREVANT/LAZCLUZE in Oncology, along with TREMFYA in Immunology and SPRAVATO in Neuroscience. Growth was partially offset by STELARA in Immunology and IMBRUVICA in Oncology. The MedTech segment posted operational sales growth of 4.6%, led by electrophysiology products, Abiomed, and Shockwave in Cardiovascular, as well as trauma products in Orthopaedics.

First-quarter free cash flow was approximately $1.5 billion compared to $3.4 billion in the prior-year period.