New products drive 2nd-qtr growth for Johnson & Johnson
Global health care products giant Johnson & Johnson (NYSE: JNJ), the first pharma to report second-quarter 2014 financial results, said group revenue rose 9.1% to $19.5 billion and beating Wall Street forecasts of $18.85 billion.
Notwithstanding, J&J’s shares dipped 1% to $104.34 at 9:34 am in New York trading having risen 17% over the previous 12 months.
J&J reported earnings increased 13% to $4.33 billion, or $1.51 per share, from $1.33 per share, in the same quarter a year ago. Earnings, adjusted for non-recurring costs, came to $1.66 per share compared with the average per-share estimate of analysts surveyed by Zacks Investment Research was $1.54.
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