Johnson & Johnson 2nd-qtr beats expectations

US health care giant Johnson & Johnson (NYSE: JNJ) reported second quarter 2013 earnings of $3.83 billion, or $1.33 per share, up from $1.41 billion, or$0. 50 per share a year earlier, when results were hit by $2.2 billion in charges for an acquisition, litigation and asset write-downs.

Revenue came in at $17.88 billion, an increase of 8.5% compared to the like 2012 quarter. Excluding one-time items, the company would have earned $1.48 per share, a rise of 13.8%, beating Wall Street estimates of $1.39 per share and sales of $17.72 billion. Wells Fargo analyst Larry Biegelsen attributed J&J’s better-than-expected earnings in part to the divestment earlier this year of its 18% stake in Ireland’s Elan for $1.26 billion.

J&J increased its earnings guidance for full-year 2013 to $5.40 - $5.47 per share, from an earlier range of $5.35 to $5.45, in line with analysts’ estimates of $5.41 a share. The company's guidance excludes the impact of special items.