Johnson & Johnson’s quarterly profit climbs 13%
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.