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J&J earnings, revenue top forecast as drugs, devices deliver

CNBC.com With Reuters
Tuesday, 16 Jul 2013 | 7:50 AM ET
Adam Jeffery | CNBC

Johnson & Johnson reported second-quarter earnings and revenue that exceeded Wall Street expectations as strong sales of prescription drugs and medical devices more than offset anemic growth of its consumer products.

Following the news, shares in the world's largest health-care products maker ticked slightly higher before the opening bell. (Click here for the latest before-hours quote.)

The diversified health-care company said on Tuesday that it earned $3.8 billion, or $1.33 per share. That compared with $1.41 billion, or 50 cents per share, in the year-earlier period, when J&J took $2.2 billion in charges for the writedown of research assets, litigation expenses and merger-related costs.

Excluding special items, J&J earned $1.48 per share, up from $1.30 a share in the year-earlier period.

Analysts had expected the company to report earnings excluding items of $1.39 a share on $17.71 billion in revenue, according to a consensus estimate from Thomson Reuters.

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