- Johnson & Johnson reported a 7% increase in net profit in the second quarter of 2023, reaching over $5.1 billion. Sales during the same period rose 6.3% annually, exceeding analysts' expectations, amounting to more than $25.5 billion. Earnings per share also rose by 8.9% to $1.96.
- Johnson & Johnson has raised its full-year sales guidance for 2023, this increase of nearly $1 billion from their previous guidance in April indicates the company's confidence in its performance and growth prospects.
Why it matters
The company's focus on pharmaceutical and MedTech innovation, as well as the strong second-quarter results, have contributed to a 1.1% increase in their shares in pre-market trading, potentially signaling a positive outlook for investors.
