UPDATE: Johnson & Johnson Posts Upbeat Q2 Earnings, Lifts Outlook

Johnson & Johnson

reported a rise in its second-quarter earnings and lifted its profit forecast for the full year. The New Brunswick, New Jersey-based company posted a quarterly profit of $4.3 billion, or $1.51 per share, compared to $3.8 billion, or $1.33 per share, in the year-ago period. Excluding certain items, Johnson & Johnson's adjusted earnings came in at $1.66 per share. Its revenue climbed 9.1% to $19.5 billion. However, analysts were expecting earnings of $1.55 per share on revenue of $19 billion. For the full-year, Johnson & Johnson's raised its adjusted earnings outlook to $5.85 to $5.92 per share from its earlier forecast of $5.80 to $5.90 per share. Worldwide consumer sales rose 2.4% y/y to $3.7 billion in the quarter, while worldwide pharmaceutical sales climbed 21.1% to $8.5 billion. Worldwide medical devices and diagnostics sales increased 0.7% to $7.2 billion in the quarter. Johnson & Johnson's world-wide Olysio sales surged to $831 million in the quarter, up from $354 million in the first quarter. Alex Gorsky, Chairman and Chief Executive Officer 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." Johnson & Johnson shares gained 0.11% to $105.50 in pre-market trading.