Johnson & Johnson Exceeds Q2 Earnings Estimates with $2.82 EPS, Lowers Full-Year Guidance

Jul 17, 2024, 10:36 AM

Johnson & Johnson reported its Q2 2024 earnings, surpassing estimates with an adjusted EPS of $2.82 against the expected $2.71. The company also reported revenue of $22.45 billion, exceeding the estimated $22.32 billion. Medicine revenue reached $14.49 billion, above the anticipated $14.08 billion. The earnings beat was driven by strong sales of its drugs, including the cancer treatment Darzalex and the blockbuster psoriasis drug Stelara. Despite the positive results, Johnson & Johnson lowered its full-year adjusted EPS guidance to a range of $9.97 to $10.07, down from the previous forecast of $10.57 to $10.72. CEO noted the "strong sales and adjusted operational earnings per share growth." Additionally, Johnson & Johnson announced a quarterly dividend for the third quarter of 2024. The stock was down 1% in pre-market trading.