Investing.com - Health care conglomerate Johnson & Johnson (NYSE:JNJ) reported better-than-expected second quarter earnings and provided upbeat guidance for the year ahead, sending its shares higher in pre-market trade.
J&J said earnings per share came in at $1.71 in the quarter ended June 30, beating expectations for earnings of $1.68 per share.
The company’s second quarter revenue totaled $17.79 billion, a decrease of 8.8% as compared to the second quarter of 2014 but above expectations for revenue of $17.49 billion.
Operational results decreased 0.9% and the negative impact of currency was 7.9%.
Domestic sales decreased 2.4%, while international sales decreased 14.3%, reflecting operational growth of 0.5% and a negative currency impact of 14.8%.
Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.7%, domestic sales increased 0.6% and international sales increased 2.7%.
"Our solid sales and earnings results in the quarter reflect the strong underlying growth we're seeing across the enterprise," said Alex Gorsky, Chairman and Chief Executive Officer.
The firm now sees full year adjusted earnings per share in a range between $6.10 and $6.20, up from a previous estimate for adjusted earnings between $6.04 and $6.19 per share.
Immediately after the earnings announcement, Johnson & Johnson shares eased up 0.76% in trading prior to the opening bell to $101.00 compared to Monday's closing price of $100.24.
Meanwhile, U.S. equity markets pointed to a flat open. The Dow futures pointed to a drop of 0.1%, the S&P 500 futures shed 0.05%, while the Nasdaq 100 futures inched up 0.05%.