Johnson & Johnson 1st-qtr 2014 results beat expectations
US health care giant Johnson & Johnson (NYSE: JNJ) today reported financial results for the first quarter of 2014, posting a sales increase of 3.5% to $18.1 billion, just beating Wall Street analysts’ projections of $18 billion.
Operational results increased 5.3% and the negative impact of currency was 1.8%. Domestic sales increased 2.2%. International sales increased 4.5%, reflecting operational growth of 7.9% and a negative currency impact of 3.4%.
Net earnings and diluted earnings per were $4.7 billion and $1.64, respectively. Excluding special items, net earnings were $4.4 billion and diluted EPS was $1.54, representing increases of 7.8% and 6.9%, respectively, compared to the same period in 2013, and exceeding the $1.48 average expectations of analysts polled by Thomson Reuters. J&J’s shares rose 2.5% to $99.58 in very early morning trading. The shares had gained 17% in the past 12 months through Monday.
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