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Johnson & Johnson's quarterly profit climbs 13%

Published July 15, 2014 9:26 am

This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

New Brunswick, N.J. • Johnson & Johnson reported second-quarter earnings Tuesday that climbed 13 percent, topping analysts' expectations.

The New Brunswick, N.J.-based company said earnings increased to $4.33 billion, or $1.51 per share, from $3.83 billion, or $1.33 per share, in the same quarter a year ago.

Earnings, adjusted for non-recurring costs, came to $1.66 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was $1.54.

The world's biggest maker of health care products said revenue rose 9.1 percent to $19.5 billion from $17.88 billion in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $18.85 billion, according to Zacks.

Johnson & Johnson shares have increased $13.79, or 15 percent, to $105.38 since the beginning of the year, while the Standard & Poor's 500 index has increased 7 percent. The stock has risen $14.98, or 17 percent, in the last 12 months.