Johnson & Johnson Stock Dips Despite Q1 Earnings Beat

JNJ beat Q1 EPS estimates by 6 cents

By William White, InvestorPlace Writer

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Johnson & Johnson (NYSE:JNJ) stock was down on Tuesday following the release of its earnings report for the first quarter of 2018.

Johnson & Johnson Stock Dips Despite Q1 Earnings Beat
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JNJ stock is down today despite the company’s strong earnings per share of $2.06 for the first quarter of the year. This is an increase over Johnson & Johnson’s earnings per share of $1.83 from the same period of the year prior. It also beats out Wall Street’s earnings per share estimate of $2.00 for the quarter.

Net income reported by Johnson & Johnson for the first quarter of 2018 came in at $4.37 billion. This is down from the consumer goods company’s net income of $4.42 billion that was reported in the first quarter of 2017.

Johnson & Johnson also reported revenue of $20.01 billion for the first quarter of the year. This is better than its revenue of $17.77 billion that was reported for the same time last year. It also came in above analysts’ revenue estimate of $19.40 billion for the period.

Johnson & Johnson’s earnings report for the first quarter of 2018 also includes an update to its outlook for the year. It is now expecting revenue for the year to range from $81.00 to $81.80 billion. Wall Street is looking for revenue of $81.13 billion for the year.

At the same time as it increased its revenue outlook for 2018, Johnson & Johnson reaffirmed its earnings per share expectations for the year. It is excepting earnings per share for 2018 to come in between $8.00 and $8.20. Analysts are estimating earnings per share of $8.10 for JNJ in 2018.

JNJ stock was down 1% as of noon Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/04/johnson-johnson-stock-dips-despite-earnings-beat/.

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