Johnson & Johnson Cuts Full-Year Profit Forecast on M&A Costs (2024)

Johnson & Johnson’s second-quarter profit beat Wall Street projections on strong pharmaceutical sales, while the company cut its full-year forecast to account for a spate of recent acquisitions.

Adjusted earnings for the quarter were $2.82 a share, the New Brunswick, New Jersey-based company said Wednesday in a statement, beating analysts’ average estimate by 11 cents. While drug sales were slightly ahead and medical device revenue fell a bit short, spending on research and development was below expectations.

Johnson & Johnson Cuts Full-Year Profit Forecast on M&A Costs (2024)
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