Johnson & Johnson Q1 Profit Decreases, but beats estimates

(RTTNews) - Johnson & Johnson (JNJ) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $5.15 billion, or $1.93 per share. This compares with $6.20 billion, or $2.32 per share, in last year's first quarter.

Excluding items, Johnson & Johnson reported adjusted earnings of $7.13 billion or $2.67 per share for the period.

Analysts on average had expected the company to earn $2.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $23.43 billion from $22.32 billion last year.

Johnson & Johnson earnings at a glance (GAAP) :

-Earnings (Q1): $5.15 Bln. vs. $6.20 Bln. last year. -EPS (Q1): $1.93 vs. $2.32 last year. -Analyst Estimates: $2.61 -Revenue (Q1): $23.43 Bln vs. $22.32 Bln last year.

-Guidance: Full year EPS guidance: $10.60 - $10.80