Stocks of Johnson & Johnson (JNJ) skyrocketed Wednesday after the company reported second quarter results and surpassed estimates, and the company raised its full-year outlook.
The stock has grown more than 6% in recent trading, earning key S&P 500 profits. They added about 14% of their value from the beginning of the year.
Medical Devices and Pharmaceuticals listed adjusted earnings of $2.77 per share at $23.74 billion, up 5.8% from the same period last year. Estimates compiled by visible alphas show that both numbers were better than analysts predicted.
The company raised its annual revenue forecast from $93.2 billion to $93.6 billion, from $91.8 billion in the last quarter. The adjusted EPS is previously projected to fall between $10.80 and $10.90, between $10.50 and $10.70.
“Our portfolio and pipeline position us for growth later this year, with game-changing approvals and submissions expected in regions such as lung and bladder cancer, major depressive disorder, psoriasis, surgery and cardiovascular,” said CEO Joaquin Doat.
The drugmaker’s CFO said Johnson & Johnson had forecast a tariff cost of $400 million this year after the company’s first quarter results. President Donald Trump is threatening sudden tariffs on drug imports.
Johnson & Johnson pledged earlier this year to increase investments in US manufacturing, with $55 billion expected over the next four years.
This article was updated because it was first published to reflect more recent stock value.
