Johnson & Johnson (NYSE:JNJ) shares advanced almost 1% in Tuesday’s premarket deals after quarterly financials beat market expectations.
The consumer goods group reported quarterly earnings of US$1.83 per share, three cents per share better than Wall Street expected.
Revenue did not, however, meet market expectations. Second quarter sales amounted to US$18.8bn, which was an increase of 1.9% from the same period last year.
Johnson & Johnson did, though, increase its sales guidance for the full year up to a range of US$75.8bn to US$76.1bn.
Chief executive Alex Gorsky, in a statement, said: "Our second-quarter results reflect strong adjusted earnings growth and we are optimistic that the investments we are making will accelerate our sales growth in the second half of this year.”
Johnson & Johnson shares were changing hands at US$133.50 each, up US$1.35 or 1.02%.