Johnson & Johnson, Surprise Q2 Earnings... COVID-19 Vaccine Sales Increase Factor

Adjusted EPS increased to $2.59 compared to the previous year

[Asia Economy Reporter Hyunji Kwon] Johnson & Johnson, the world's largest healthcare company, posted a surprise performance in the second quarter that exceeded market expectations. However, it lowered its sales and net profit forecasts for the year.

On the 19th (local time), according to the U.S. economic media CNBC, Johnson & Johnson announced that its adjusted earnings per share (EPS) for the second quarter was $2.59. This is a slight increase from $2.48 last year. Sales also rose to $24.02 billion from $23.3 billion last year. This is attributed to increased sales of COVID-19 vaccines by its subsidiary Janssen.

However, Johnson & Johnson forecasted its full-year adjusted EPS to be between $10 and $10.15, lowering it from the previous quarter's forecast of $10.15 to $10.35. Johnson & Johnson explained this by stating, "Sales generated outside the U.S. decreased due to the strong U.S. dollar."