Johnson & Johnson lifts guidance on strong Q2 sales, shares pop

(Sharecast News) - US healthcare company Johnson & Johnson raised on Wednesday lifted annual earnings and sales guidance on the back of strong sales and foreign exchange tailwinds, sending shares in the firm up 5.5%. The drug and medical equipment maker posted a rise in second-quarter sales to $23.7bn year-on-year, beating the $22.8bn forecast by analysts. Earnings per share came in at $2.77 compared with estimates of $2.68.

Adjusted sales growth for the full year was now expected to be 3.2 - 3.7%, up from 2-3%. J&J now expects full-year sales, including the impact of foreign currency, in the range of $93.2bn - $93.6bn, up from an April forecast of $91bn - $91.8bn when the company said it was $400m in costs related to tariffs.

Reporting by Frank Prenesti for Sharecast.com