Johnson & Johnson (NYSE:JNJ) shares are trading slightly higher Tuesday after the company announced better-than-expected financial results.
Johnson & Johnson said second-quarter revenue increased 3% year-over-year to $24.02 billion, which beat the estimate of $23.81 billion, according to data from Benzinga Pro. The company reported quarterly adjusted earnings of $2.59 per share, which beat the estimate of $2.57 per share.
“Our solid second quarter results across Johnson & Johnson reflect the strength and resilience of our Company’s market leadership in the midst of macroeconomic challenges,” said Joaquin Duato, CEO of Johnson & Johnson.
Johnson & Johnson cut full-year revenue guidance from a range of $94.8 billion to $95.8 billion to a range of $93.3 billion to $94.3 billion versus the estimate of $96.04 billion. The company cut full-year earnings guidance from a range of $10.15 to $10.35 per share to a range of $10 to $10.10 per share versus the estimate of $10.27 per share.
See Also: Johnson & Johnson Cuts Annual Profit Outlook, Pharma Unit Cushions Fall In Medical Devices
JNJ Price Action: Johnson & Johnson has traded between $186.69 and $155.72 over a 52-week period.
The stock was up 0.02% at $174.26 at time of publication.
Photo: BC Y from Pixabay.
