Health and Healthcare
J&J Manages to Beat Earnings Despite Currency Drag
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Johnson & Johnson (NYSE: JNJ) has now reported its first-quarter results, showing an 8.5% gain in sales to $17.5 billion, and earnings of $4.1 billion on a normalized earnings basis that came to $1.44 in earnings per share. Thomson Reuters was calling for $1.40 per share earnings and $17.44 billion in sales. Domestic sales increased 11.2%, while international sales rose by 6.3% after a negative currency impact of 2.4%.
J&J also has gone out and reconfirmed its earnings guidance for fiscal 2013 in a range of $5.35 to $5.45 per share, but it noted that guidance excludes the impact of special items. Thomson Reuters had estimates of $5.40 per share.
Worldwide consumer sales rose by 2.2% to $3.7 billion for the first quarter, after a negative impact from currency of 1.1%. Worldwide pharmaceutical sales were up 10.4% to $6.8 billion for the first quarter, after a negative impact from currency of 1.0%.
We did not see information regarding the dividend, but we have been expecting a dividend hike. Shares closed at $81.71 yesterday, against a 52-week range of $61.71 to $83.09.
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