Johnson & Johnson cuts annual profit forecast on hit from stronger dollar - 19 iulie 2022
Johnson & Johnson on Tuesday cut its full-year adjusted profit and sales forecast due to a hit from a stronger dollar, even as the company’s pharmaceuticals unit helped it beat second-quarter profit estimates. J&J now expects a full-year adjusted profit of $10.00 to $10.10 per share, from its prior forecast of $10.15 to $10.35.
The company’s net earnings fell to $4.81 billion, or $1.80 per share, in the second quarter, from $6.28 billion, or $2.35 per share, a year earlier.
Total sales rose about 3% to $24.02 billion, with nearly half of the sales coming from outside the United States. In the reported quarter, sales at the company’s medical devices unit fell 1.1% to $6.90 billion, hurt by “COVID-19 related mobility restrictions in certain regions”.
(US.JNJ)