Johnson & Johnson posts 2Q profit, results beat Street expectations

Markets Associated Press

Johnson & Johnson (JNJ) on Tuesday reported second-quarter net income of $4.52 billion.

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On a per-share basis, the New Brunswick, New Jersey-based company said it had net income of $1.61. Earnings, adjusted for amortization costs and non-recurring costs, were $1.71 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.

The world's biggest maker of health care products posted revenue of $17.79 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $17.7 billion.

Johnson & Johnson expects full-year earnings in the range of $6.10 to $6.20 per share.

Johnson & Johnson shares have declined 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2 percent. The stock has fallen 2.5 percent in the last 12 months.

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

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Keywords: Johnson & Johnson, Earnings Report, Priority Earnings