Strong quarter from J&J as some operations return to normal

 Johnson & Johnson reported strong second-quarter profit and revenue as the health care industry recovers from the effects of the coronavirus pandemic and it raised its expectations for the year for both

NEW YORK — Johnson & Johnson reported strong second-quarter profit and revenue as the health care industry recovers from the effects of the coronavirus pandemic and it raised its expectations for the year for both.

The company reported net income of $6.28 billion, or $2.35 per share. Earnings, adjusted for one-time events, were $2.48 per share, which easily topped Wall Street projections for $2.28, according to a survey by Zacks Investment Research.

Revenue at the New Brunswick, New Jersey, drugmaker was $23.31 billion.

Johnson & Johnson expects full-year earnings in the range of $9.60 to $9.70 per share, with revenue in the range of $93.8 billion to $94.6 billion.

Company shares edged higher before the opening bell Wednesday.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JNJ at https://www.zacks.com/ap/JNJ

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SOURCE: Automated Insights

LANGUAGE: en-us

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