J&J Q2 Profit Spikes; Boosts 2013 Adj. EPS View - Quick Facts

(RTTNews) - Healthcare giant Johnson & Johnson (JNJ) reported a jump in its second-quarter net earnings to $3.83 billion, or $1.33 a share, from $1.41 billion, or $0.50 a share, in the prior-year quarter. Excluding special items, adjusted net earnings for the period stood at $4.3 billion, or $1.48 a share in the latest quarter. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $1.39 for the quarter. Analysts' estimates typically exclude one-time items.

The company clocked sales of $17.9 billion for the second quarter of 2013, up 8.5% from the prior year's $16.48 billion, whereas 15 analysts estimated revenues of $17.71 billion. Operational results increased 10.0% and the negative impact of currency was 1.5%. Domestic sales went up 8.0%, and International sales up 9.0%, reflecting operational growth of 11.8% and a negative currency impact of 2.8%. The company said the sales included the impact of the acquisition of Synthes, Inc., net of the divestiture of the DePuy trauma business. Excluding this impact, worldwide operational sales growth was 5.6%.

For 2013, the firm raised its earnings per share guidance to $5.40 - $5.47, from its earlier view of $5.35 - $5.45, excluding the special items' impact. Analysts project earnings of $5.41 per share for 2013.