Johnson & Johnson Rises On Upbeat Quarterly Results, Outlook

(RTTNews) - Shares of Johnson & Johnson (JNJ) are rising more than 5% Thursday morning after reporting better-than-expected second-quarter results.

Earnings for the second quarter rose to $5.144 billion or $1.96 per share from $4.814 billion or $1.80 per share in the same quarter a year ago.

Excluding one-items, earnings were $7.358 billion or $2.80 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $2.62 per share.

Quarterly sales increased 6.3% to $25.53 billion from $24.02 billion last year. The consensus estimate was for $24.63 billion.

Looking forward, the company has raised its full-year sales outlook to $98.8 billion - $99.8 billion from $97.9 billion - $98.9 billion provided earlier. Adjusted EPS outlook has been raised to $10.70 - $10.80 from $10.60 - $10.70

Analysts expect the company to report earnings of $1.065 per share on revenue of $98.96 billion for the year.

JNJ, currently at $167.08 has traded in the range of $150.11 - 181.04 in the last 52 weeks.