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Johnson & Johnson Q2 Beats Estimates; Cuts Full-year Outlook - Update

(Adds Outlook)

Johnson & Johnson (JNJ) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $4.81 billion, or $1.80 per share. This compares with $6.28 billion, or $2.35 per share, in last year's second quarter.

Excluding items, Johnson & Johnson reported adjusted earnings of $6.91 billion or $2.59 per share for the period.

Analysts on average had expected the company to earn $2.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.0% to $24.02 billion from $23.31 billion last year.

Outlook:

Looking forward, the company has slashed its full-year outlook.

Johnson & Johnson now expects adjusted EPS for the full year in the range of $10.00-$10.10 compared with $10.15 - $10.35 provided earlier.

Sales for the full year is expected to be in the range of $93.3 billion - $94.3 billion compared with $94.8 billion - $95.8 billion previously guided.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.27 per share on revenue of $96.04 billion for the period.


Johnson & Johnson earnings at a glance (GAAP) :

-Earnings (Q2): $4.81 Bln. vs. $6.28 Bln. last year.
-EPS (Q2): $1.80 vs. $2.35 last year.
-Analyst Estimates: $2.57
-Revenue (Q2): $24.02 Bln vs. $23.31 Bln last year.

-Guidance:
Full year EPS guidance: $10.00 - $10.10

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