Early Tuesday, Johnson & Johnson (JNJ) reported adjusted earnings of $2.68 per share on $24.75 billion in first-quarter sales. In response, JNJ stock advanced.
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On average, analysts polled by FactSet expected J&J earnings of $2.51 per share on $23.61 billion in sales.
In the year-earlier period, the health care giant earned $2.67 per share, minus some items, and reported $23.43 billion in sales.
For the year, J&J raised its full-year outlook. Now, the company expects adjusted earnings of $10.60 to $10.70 per share and $97.9 billion to $98.9 billion in sales. JNJ stock analysts predicted income of $10.51 a share on $97.57 billion in sales.
In premarket trading on today’s stock market, JNJ stock rose 1.4% near 168. Shares are consolidating with a buy point at 183.45, according to MarketSmith.com. But shares remained below its 200-day line at Monday’s close.
More to follow.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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