Strong quarter from Johnson and Johnson as some operations return to normal
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New Delhi: Johnson & Johnson's second-quarter profit soared 73%, thanks to strong sales growth across all of its businesses, particularly its medical device and diagnostics segment, as hospitals and the rest of the health care industry continued recovering from the effects of the coronavirus pandemic.
The health care giant also got a boost from favorable currency exchange rates and hiked its sales and profit forecasts sharply for the year.
The world's biggest maker of health care products on Wednesday reported net income of $6.28 billion, or $2.35 per share, in the quarter, up from $3.63 billion, or $1.36 per share, a year earlier.
Adjusted income came to $6.63 billion, or $2.48 per share. That easily topped Wall Street projections for $2.28 per share, according to a survey by Zacks Investment Research.
Revenue totaled a whopping $23.31 billion, up 27.1% from $18.34 billion in 2020's second quarter.
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