Johnson & Johnson Q2 Profit Falls 20% on Charges; Adjusted Net Beats View (JNJ)
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
We have been recommending shares of Johnson & Johnson ( JNJ ) since Apr.29, when the stock was trading at $65.38. The company has a 3.40% dividend yield, based on last night's closing stock price of $67.09.
Johnson & Johnson ( JNJ ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.