NEW YORK, July 19: US pharmaceutical and health care products giant Johnson & Johnson said on Tuesday profit fell sharply in the second quarter under the weight of restructuring and legal expenses.
Net earnings fell 19.5 per cent from a year ago, to $2.78 billion, the New Jersey-based company said in a statement.
The decline was slightly less than expected by analysts. J&J reported earnings per share of $1.28, topping the average estimate of $1.23.
Revenues also exceeded expectations, up 8.3 per cent year-on-year to $16.60 billion.
J&J reaffirmed its prior estimate of full-year earnings per share between $4.90 and $5 for this year.—AFP
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