Johnson & Johnson (NYSE:JNJ) earnings for the pharmaceutical and consumer goods company’s second quarter of 2020 have JNJ stock on the move Thursday. That comes after reporting adjusted earnings per share of $1.67 on revenue of $18.34 billion. For comparison, Wall Street was expecting adjusted EPS of $1.48 on revenue of $17.5 billion.
Here’s what else is worth noting from the Johnson & Johnson Q2 earnings report.
- Adjusted per-share earnings are down 35.3% from $2.58 during the same time last year.
- Revenue for the quarter comes in 10.8% lower than the $20.56 billion reported in the second quarter of 2019.
- The Johnson & Johnson Q2 earnings report also includes a net income of $3.63 billion.
- That’s a 34.6% drop compared to the company’s net income of $5.61 billion from the same period of the year prior.
Alex Gorsky, chairman and CEO of Johnson & Johnson, said this in the Q2 earnings report.
“Our second quarter results reflect the impact of COVID-19 and the enduring strength of our Pharmaceutical business, where we saw continued growth even in this environment. Thanks to the tireless work of our colleagues around the world and our broad range of capabilities, we continue to successfully navigate the external landscape, and we remain focused on advancing the development of a vaccine to help address this pandemic and save lives.”
Johnson & Johnson also updated its outlook for 2020 in its Q2 earnings report. It now expects adjusted EPS to range from $7.75 to $7.95. JNJ’s previous guidance was for adjusted EPS of $7.50 to $7.90 during the year. Wall Street is estimating adjusted earnings per share of $7.73 in 2020.
JNJ stock was down slightly as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
