It's been a great morning for earnings at some of the world's biggest companies. First, Wall Street giants JPMorgan Chase and then Goldman Sachs delivered positive reports, and now Johnson & Johnson is the next major company to beat earnings estimates. While they were expected to bring in $18.91 billion in revenue, at $1.54 per share, they were actually able to easily exceed that.
Johnson & Johnson announced sales of $19.5 billion for the second quarter of 2014, an increase of 9.1 precent compared to the second quarter of 2013. Operational results increased 9.4 percent and the negative impact of currency was 0.3 percent. Domestic sales increased 14.9 percent; and international sales increased 4.4%, reflecting operational growth of 5.0 percent and a negative currency impact of 0.6 precent. In pre-market trading, Johnson & Johnson was up .4 percent to 105.80.
In the usual statement from Alex Gorsky, Chairman and Chief Executive Officer, he said:
Our strong second-quarter results reflect the continued success of our new product launches and the progress we have made in achieving our near-term priorities. Significant advancements are being made in the treatment options and access to care for patients and customers around the world. Our diversified business model, focus on long-term growth drivers and talented colleagues position us well in this evolving and dynamic global health care market."
Johnson & Johnson attributed the booming numbers to sales of their new hepatitis C treatment, Olysio. Olysio sales hit $831 million this quarter, up substantially from sales of $354 million last quarter.
You can listen to the recorded press call here.