Pharmaceutical giant Johnson & Johnson’s (JNJ) second-quarter financial results beat Wall Street forecasts on both the top and bottom lines.
The company reported earnings per share (EPS) of $2.82 U.S., which beat forecasts of $2.71 U.S.
Revenue in the April through June period totaled $22.45 billion U.S., which topped Wall Street forecasts of $22.30 billion U.S.
In terms of guidance, Johnson & Johnson said it expects earnings of $10.60 U.S. to $10.75 U.S. for all of this year, and full-year revenue of $88 billion U.S. to $88.40 billion U.S.
The company and its finances have been impacted by years of litigation over consumer claims that its baby talc causes cancer.
Johnson & Johnson has repeatedly denied those claims and says its products do not lead to cancer.
The company recently unveiled a plan to end the talc litigation, offering to pay as much as $11 billion U.S. to various plaintiff groups.
The stock of Johnson & Johnson has declined 5% over the last 12 months to trade at $151.01 U.S. per share.
