Johnson & Johnson earnings for the second quarter of 2019 have JNJ stock down on Tuesday.
Johnson & Johnson (NYSE:JNJ) reported earnings per share of $2.58 for the second quarter of the year. This is an increase over the company’s earnings per share of $2.10 from the same time last year. It also beat out Wall Street’s earnings per share estimate of $2.46 for the quarter, but couldn’t keep JNJ stock from falling today.
Net income reported in the Johnson & Johnson earnings report for the second quarter of 2019 comes in at $5.61 billion. This is up roughly 42% from the company’s net income of $3.95 billion reported in the second quarter of the previous year.
The Johnson & Johnson earnings report for the second quarter of the year has revenue coming in at $20.56 billion. This is a drop from the company’s revenue of $20.83 billion reported in the same period of the year prior. Despite this, it still comes in above analysts’ revenue estimate of $20.29 billion for the quarter, but JNJ stock is still falling on Tuesday.
Johnson & Johnson also takes time in its most recent earnings report to update its 2019 guidance. This includes expecting its operational sales to increase between 3.2% and 3.7% from last year. However, the company doesn’t increase its earnings per share estimate for the year even after beating estimates this quarter.
So what exactly is dragging JNJ stock down today? Concerns from the company about its large amount of lawsuits is one issue. Pressure from the government about its alleged role in the opioid crisis also isn’t doing it any favors, either.
JNJ stock was down 1% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.