Johnson & Johnson raised its full-year sales guidance to a midpoint of $101.1 billion, up from $100.8 billion previously, following fiscal second-quarter results that beat estimates. The healthcare giant reported quarterly sales of $25.31 billion, above the $25.05 billion average analyst estimate, with adjusted earnings per share of $2.90 versus the $2.85 expectation. Its pharmaceutical unit generated $16.38 billion in sales, exceeding the $16.1 billion estimate, driven by a 72.5% surge in Tremfya sales to $2 billion, which helped offset a more than 55% drop in Stelara revenue to $740 million due to patent loss. The company also raised its adjusted earnings per share forecast to $11.68 at the midpoint from $11.55. Abbott Laboratories, which also beat quarterly estimates and raised its annual profit forecast, saw its diagnostics segment rise 42% to $3.09 billion, while reaffirming its full-year comparable sales growth guidance of 6.5% to 7.5%.
Johnson & JohnsonJ&J raised sales and EPS guidance after Q2 beat, with strong Tremfya growth.
Abbott LaboratoriesAbbott beat estimates and raised annual profit forecast, mentioned as peer.
