Johnson & Johnson Beats Sales and Earnings
Johnson & Johnson (NYSE: JNJ – $103.88) announced sales of $19.5 billion for the second quarter, an increase of 9.1% as compared to the second quarter of 2013, led by sales of the company’s new hepatitis C drug, which continued to boost the health-care giant’s revenue. Excluding special items, net earnings for the current quarter were $4.8 billion and diluted earnings per share were $1.66, representing increases of 11.3% and 12.2%, respectively, as compared to the same period a year ago. Analysts had forecast earnings of $1.54 a share and revenue of just under $19 billion. The company also increased its per-share earnings guidance for the full-year to between $5.85 and $5.92, excluding special items. Income accounts should continue to do well with a position in Johnson & Johnson yielding 2.7%.