Johnson & Johnson (NYSE:JNJ) has released its earnings report for the second quarter of 2017 and it beat analysts’ earnings estimates.
During the second quarter of 2017, Johnson & Johnson reported earnings per share of $1.83. This is up from its earnings per share of $1.74 from the same time last year. It also came in above Wall Street’s earnings per share estimate of $1.80 for the quarter.
JNJ reported revenue of $18.84 billion for the second quarter of 2017. This is better than its revenue of $18.48 billion from the second quarter of 2016. However, this comes in below analysts’ revenue estimate of $18.95 billion.
Johnson & Johnson also revised its outlook for 2017. This includes increasing its earnings per share estimate for the year to between $7.12 and $7.22. Wall Street is expecting the company to report earnings per share of $7.10 for the quarter.
Johnson & Johnson also updated its revenue estimates for the full year of 2017. It is now expecting revenue for the year to range from $75.8 billion to $76.1 billion. Analysts are expecting the company to report revenue of $75.67 billion in 2017.
Johnson & Johnson notes that it is increasing its guidance for 2017 due to investments it has been making. This includes the acquisition of biopharmaceutical company Actelion for $30 billion. JNJ also got approval for its drug Tremfya and is expecting positive momentum from it. Other new drugs from the company also saw strong sales during the company’s second quarter of the year.
JNJ stock was largely unaffected by the release of its earnings report for the second quarter of 2017.
As of this writing, William White did not hold a position in any of the aforementioned securities.
