J&J 1st-qtr sales show modest rise but still beat expectations

19 April 2016

USA-based Johnson & Johnson (NYSE: JNJ), the world’s largest health care products company, today posted financial results for the first quarter of 2015, with group sales coming in at $17.48 billion in the period, up 0.6% from the like 2014 quarter, which topped Wall Street forecasts for $17.42 billion. Sales were impacted 3.3% by unfavorable currency factors.

The company reported net income of $4.29 billion, or $1.54 per share, down 0.7% from $4.32 billion, or $1.53 per share, in 2015's first quarter. Excluding special items, the company earned $1.68 per share, topping Wall Street expectations of $1.65. J&N’s shares rose 2.33% to $113.51 in mid-morning trading.

J&J, always one of the first pharma off the starting block with financials, raised its 2016 profit forecast to a range of $6.53 to $6.68 per share, up from its January forecast range of $6.43 to $6.58. It also increased its revenue forecast to a range of $71.2 billion to $71.9 billion, up from $70.8 billion to $71.5 billion.

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