Johnson & Johnson Reports Q2 2022 Revenue Up 3% Year-Over-Year, Beats Expectations but Lowers Full-Year Guidance

Intelligent Finance APP learned that on July 19, before the US stock market opened, Johnson & Johnson (JNJ.US) announced its Q2 2022 earnings. The financial report showed that Johnson & Johnson's Q2 revenue was $24.02 billion, exceeding market expectations by $180 million, a year-on-year increase of 3%; net profit was $4.814 billion, a year-on-year decrease of 23.3%; diluted earnings per share were $1.80, compared to $2.35 in the same period last year. Non-GAAP diluted earnings per share were $2.59, a year-on-year increase of 4.4%, exceeding market expectations by $0.04.

By region, sales in the United States were $12.197 billion, an increase of 2.3% year-over-year; international sales were $11.823 billion, an increase of 3.8% year-over-year.

By business segment, sales of the Consumer Health business were $3.805 billion, a year-on-year decrease of 1.3%; sales of the Pharmaceutical business were $13.317 billion, a year-on-year increase of 6.7%; sales of the Medical Technology business were $6.898 billion, a year-on-year decrease of 1.1%.

Looking ahead, Johnson & Johnson forecasts 2022 sales (excluding COVID-19 vaccine revenue) to be $93.3 billion - $94.3 billion, revised down from the previous expectation of $94.8 billion - $95.8 billion, with consensus expectations at $96.09 billion; adjusted earnings per share are projected at $10 - $10.1, down from the earlier forecast of $10.15 - $10.35, with consensus expectations at $10.19.