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Johnson & Johnson beats earnings estimates for Q2 and raises full-year guidance

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Johnson & Johnson shares
rose 1.1% in premarket trade Wednesday, after the consumer and health company beat earnings estimates for the second quarter and raised its full-year guidance. The company said it had net income of $6.278 billion, or $2.35 a share, up from $3.626 billion, or $1.36 a share, in the year-earlier period. Adjusted per-share earnings came to $2.48, ahead of the $2.29 FactSet consensus. Sales rose 27.1% to $23.312 billion from $18.336 billion, also ahead of the $22.490 billion FactSet consensus. Chief Executive Alex Gorksy said sales were strong across the company’s medical device, consumer health and pharma businesses. Consumer health sales rose 13.5 to $3.735 billion, pharma sales rose 17.2% to $12.599 billion and medical device sales rose 62.7% to $$6.978 billion. The company raised its full-year guidance and now expects adjusted EPS to range from $9.50 to $9.60, up from prior guidance of $9.30 to $9.45. It expects sales of $92.5 billion to $93.3 billion including its COVID-19 vaccine, versus prior guidance of $89.3 billion to $90.3 billion. Shares have gained 7% in the year to date, while the Dow Jones Industrial Average
has gained 12.8%.

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Julia Mangels

Julia has handled various businesses throughout her career and has a deep domain knowledge. She founded Stock Market Pioneer in an attempt to bring the latest news to its readers. She is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

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