J&J’s 2nd-qtr beats analysts’ expectations, despite sales decline

US health care giant Johnson & Johnson (NYSE: JNJ) has reported second-quarter 2015 financials, showing net profit rose 4.4% to $4.52 billion, or $1.61 per share, from $4.33 billion, or $1.51 per share, a year-on-year.

Earnings per share were $1.71 after special items, beating analysts' estimates of $1.68 a share for the quarter. Revenue fell 8.8% year over year to $17.79 billion for the second quarter – impacted by a strong us dollar, compared to analysts' slightly lower estimates of $17.76 billion. Nevertheless, J&J’s shares dipped a modest 0.9% to $99.39 an hour or so before close of trading

"Our solid sales and earnings results in the quarter reflect the strong underlying growth we're seeing across the enterprise," said Alex Gorsky, chairman and chief executive of J&J, the first drugmaker to report second-quarter results this year, adding: "Our diverse portfolio and scale are enabling this performance, and we've continued to invest in building a robust enterprise pipeline that will drive our growth over the long term. Our passion to deliver transformational new medicines and products reflects the ongoing commitment of our dedicated employees to improve health and well-being."