Johnson & Johnson (NYSE: JNJ) reported Q1 EPS of $1.35, $0.09 better than the analyst estimate of $1.26. Revenue for the quarter came in at $16.2 billion versus the consensus estimate of $15.83 billion.

Raises its FY11 EPS guidance to $4.90-$5, vs. the consensus of $4.83. The company had previously guided to $4.80-$4.90.

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