Johnson & Johnson tops Street 1Q forecasts
NEW BRUNSWICK, N.J. (AP) — Johnson & Johnson (JNJ) on Tuesday reported first-quarter net income of $4.29 billion.
On a per-share basis, the New Brunswick, New Jersey-based company said it had profit of $1.54. Earnings, adjusted for amortization costs and restructuring costs, came to $1.68 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.
The world's biggest maker of health care products posted revenue of $17.48 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $17.42 billion.
Johnson & Johnson expects full-year earnings in the range of $6.53 to $6.68 per share, with revenue in the range of $71.2 billion to $71.9 billion.
Johnson & Johnson shares have increased 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2.5 percent. The stock has risen 11 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JNJ at http://www.zacks.com/ap/JNJ
Keywords: Johnson & Johnson, Earnings Report, Priority Earnings