7/17/2018, 12:43 PM (Source: TeleTrader)
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J&J revenue jumps 10.6% to $20.8B in Q2

Johnson & Johnson said on Tuesday its revenue for the second quarter of 2018 stood at $20.8 billion, rising 10.6% from the same period a year ago and topping market estimates. The pharmaceutical and consumer packaged goods company's diluted earnings per share rose 3.6% to $1.45 and net income amounted to $4 billion, marking a 3.3% increase year-on-year. Adjusted EPS soared 14.8% to $2.10 and adjusted net income grew 14% to $5.7 billion in the three months to June.

"Our strong second-quarter results reflect double-digit growth in our Pharmaceutical business and the accelerating sales momentum in our Medical Devices business, driven by the continued growth of our market leading products and strategic new launches," CEO Alex Gorsky stated.

Johnson & Johnson shares fell 1.56% in pre-market trading. The pharma giant was recently fined $4.7 billion after a Missouri judge ruled its talc products contained asbestos which caused ovarian cancer.

Breaking the News / NP