Johnson and Johnson Posts 2Q Beat

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Johnson & Johnson <JNJ.N> reported sharply better-than-expected quarterly revenue and earnings, fueled by strong sales of newer prescription drugs, including its Olysio treatment for hepatitis C.

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The diversified healthcare company on Tuesday said it earned $4.33 billion, or $1.51 per share, in the second quarter. That compared with $3.83 billion, or $1.33 per share, in the year-earlier period, when the company took charges for litigation and an acquisition.

Excluding special items, J&J earned $1.66 per share. Analysts, on average, were expecting $1.55 per share, according to Thomson Reuters I/B/E/S.

Company sales jumped 9.1 percent to $19.5 billion, well above Wall Street expectations of $18.99 billion.

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