Johnson & Johnson (JNJ) reported second-quarter earnings that beat estimates on both revenue and profit. The company posted revenue of $22.45 billion, surpassing the expected $22.34 billion, while adjusted EPS came in at $2.82, above the projected $2.71. Despite this strong performance, JNJ lowered its full-year guidance, citing impacts from recent acquisitions.
Johnson & Johnson CFO Joe Wolk joins Yahoo Finance health reporter Anjalee Khemlani to discuss the results.
Wolk expresses satisfaction with the company’s top-line growth in the second quarter, noting expansion across various business segments and products. While acknowledging that its medtech segment’s sales fell slightly short of expectations, he details the company’s growth plans for this sector moving forward.
Wolk highlights the recent acquisition of Abiomed, describing it as “a nice complement” that strengthens JNJ’s position in the cardiovascular space. “I think we’re very well positioned to play in these higher growth markets,” Wolk states, remaining optimistic about the medtech business’ potential despite the quarter’s disappointing performance.
“Continuing to come up with new innovative medicines that raise the standard of care is really what is the formula for our success,” Wolk tells Yahoo Finance.
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