Johnson & Johnson posted a 5 percent drop in second-quarter
earnings, but profit and revenue beat analyst forecasts helped
by surprisingly resilient pharmaceutical and consumer product
sales. Revenue took a hit from patent expirations on its drugs
for schizophrenia and epilepsy, but sales of its blockbuster arthritis
drug Remicade were better than expected. The company
earned $3.21 billion, or $1.15 per share. That compared with
$3.37 billion, or $1.18 per share, in the year-earlier period. Analysts
on average expected $1.11 per share, according to
Reuters Estimates. J&J's quarterly revenue fell 7.4 percent to
$15.24 billion, but was $190 million higher than analysts expected.
Sales would have been 6 percentage points higher if not
for the strong dollar, which hurt the value of overseas sales. The
company affirmed its full-year profit forecast of $4.45 to $4.55
per share, which excludes special items.
Bilibala comments
In long run, health care is in need and the service is extremely difficult for other company to copy, so Johnson & Johnson will receive the benefit of it.
2Q results inline with my expectation, i need further analysis to determine the target price
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