Johnson & Johnson's stock rises after profit and sales beat, raised sales guidance

Shares of Johnson & Johnson JNJ, +0.40% gained 1.0% in premarket trade Tuesday, after the drug and consumer products giant reported first-quarter earnings and revenue that rose above expectations, and raised its full-year sales growth outlook. Net income fell to $3.75 billion, or $1.39 a share, from $4.37 billion, or $1.60 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to $2.10 from $2.06, beating the FactSet consensus of $2.04. Sales increased 0.1% to $20.02 billion, above the FactSet consensus of $19.61 billion. Within its business segments, pharmaceutical sales rose 4.1% to $10.24 billion, above the FactSet consensus of $9.81 billion, and medical devices sales slipped 1.0% to $6.46 billion but beat expectations of $6.34 billion, while consumer sales fell 2.4% to $3.32 billion, missing expectations of $3.40 billion. For 2019, J&J raised its outlook for sales growth to 2.5% to 3.5% from 2.0% to 3.0% and narrowed its adjusted EPS guidance to $8.53 to $8.63 from $8.50 to $8.65. The stock has advanced 5.8% year to date while the Dow Jones Industrial Average DJIA, -0.10% has gained 13.1%.

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