Johnson & Johnson (JNJ) Tops Q2 EPS by 4c; Maintains Operational Guidance at Midpoint, Cuts on Reported Basis
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J&J's cancer drug sales help weather hit from stronger dollar
July 19, 2022 6:27 AM EDT(The story corrects paragraph three to say company reported Q2, not Q1, results)
By Manas Mishra
(Reuters) - Johnson & Johnson on Tuesday reported quarterly results that beat analysts' estimates on strong demand for cancer drug Darzalex and its COVID-19 vaccine, even as the company cut its full-year adjusted profit forecast due to a stronger dollar.
J&J joins other major U.S. multinationals with sizeable international operations, including Microsoft Corp and IBM, in warning that a stronger dollar would hurt overseas sales.
But J&J's shares rose 1% in morning trading as its strong... More
