Health care giant Johnson & Johnson (NYSE: JNJ) reported second-quarter earnings this morning, posting adjusted earnings per share (EPS) of $1.30 on revenue of $16.5 billion. The consensus estimate from analysts called for EPS of $1.29 on revenue of $16.7 billion. Including one-time charges related to acquisition costs, litigation and other charges, J&J posted EPS of $0.50. Currency exchange rates lowered quarterly revenue by 4.2%.
The worse news from J&J is that the company cut its full-year adjusted EPS forecast from a range of $5.07 to $5.17 to one of $5.00 to $5.07. The revised guidance “reflects the negative impact of recent currency movements, partially offset by the positive contribution from the Synthes acquisition.” J&J’s $19.7 billion purchase of orthopedic device maker Synthes closed in the second quarter.
The effect of a stronger dollar hit J&J hard, costing the company’s consumer division 5.2% of revenue, and international sales a negative impact of 8%. Currency impacts also hit the medical devices and diagnostics group, lowering global sales by 3.5% and international sales by 6.2%.
J&J shares are up about 0.3% in pre-market trading at $68.67 in a 52-week range of $59.08 to $68.74.
Paul Ausick
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.