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Johnson & Johnson Q2 Profit Falls 20% on Charges; Adjusted Net Beats View (JNJ)
7/19/2011 8:57:00 AM
Healthcare superpower Johnson & Johnson ( JNJ ) on Tuesday said its second quarter profit fell 20% from last year due to one-time charges, but adjusted results beat analyst expectations.
The New Brunswick, NJ-based company reported second quarter net income of $2.78 billion, or $1 per share, compared with $3.45 billion, or $1.23 per share, in the year-ago period. Excluding several one-time charges, adjusted profit was $1.28 per share.
Revenue rose more than 8% from last year to $16.6 billion.
On average, Wall Street analysts expected a smaller profit of $1.24 per share, on lower revenue of $16.23 billion.
Johnson & Johnson shares were up slightly in premarket trading Tuesday.
The Bottom Line
Johnson & Johnson ( JNJ ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.