Investing.com – Johnson & Johnson (NYSE:JNJ) reported mixed results on Tuesday that beat on the bottom line, but missed on revenue, sending its shares initially 1% higher in pre-market trade.
The blue chip healthcare products firm said earnings per share (EPS) came in at $1.83 in the second quarter, compared to expectations of $1.80 a share and $1.74 in the same period last year.
The firm’s revenue totaled $18.84 billion in the April-to-June quarter, coming out just under estimates for revenue of $18.93 billion. That compared to sales of $18.48 billion in the second quarter of 2016.
"Our second-quarter results reflect strong adjusted earnings growth and we are optimistic that the investments we are making will accelerate our sales growth in the second half of this year," chairman and chief executive officer Alex Gorsky said in the press release, adding that the company's pharmaceutical pipeline "continued its strong momentum".
Traders will now turn their attention to the bank’s conference call due to start at 8:30AM ET (12:30GMT).
Following the release of the report, shares in Johnson & Johnson rose 1.07% in pre-market trade to $133.50 by 6:50AM ET (10:50GMT). Its shares closed down 0.34% on Monday at $132.15.
Meanwhile, U.S. equity markets pointed to a flat open. The blue-chip Dow futures advanced 0.06%, the S&P 500 futures edged down 0.02%, while the tech-heavy Nasdaq 100 futures slipped 0.02%.