Johnson & Johnson reported Tuesday morning before the open its 2Q net income rose 9.3% to $3.08 billion, good for EPS of $1.05 a share, on a 13% rise in revenue, to $15.1 billion.
Consensus analyst estimates were predicting EPS of $1.00 on sales of $15.1 billion. J&J reported domestic sales increased 9% while international sales rose a robust 18.4%. The strong international sales growth reflects operational growth of 13% and a positive currency impact of 5.4%. On a pro-forma basis, including acquisitions, worldwide sales increased 3.6% operationally. Said CEO William C. Weldon, "We continue to grow earnings while successfully integrating acquisitions and continuing to invest in promising new growth opportunities." The company reaffirmed its full year EPS guidance of $4.02-$4.07, in line with consensus estimates of $4.04. Shares were up 0.3% in pre-market action.
Sources: Press Release, Bloomberg, TheStreet.com, MarketWatch, Reuters [check bback later today for JNJ's latest conference call transcript]
Commentary: Johnson & Johnson: A Definite Buy at Current Price Levels • J&J Lands FDA Approval for Breast Cancer Test • Johnson & Johnson Approves $10 Billion Buyback
Stocks/ETFs to watch: Johnson & Johnson (JNJ). Competitors: Merck & Co. Inc. (MRK), Pfizer (PFE), Novartis AG (NVS), Procter & Gamble Co. (PG). ETFs: Pharmaceutical HOLDRs (PPH), Health Care Select Sector SPDR (XLV), Vanguard Health Care ETF (VHT)
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