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Johnson & Johnson Shares Fall After Sales Forecast Lowered

Johnson & Johnson Shares Fall After Sales Forecast Lowered
(Mohamed Ahmed Soliman | Dreamstime)

Tuesday, 17 July 2018 07:44 AM

Johnson & Johnson lowered its sales forecast for 2018 on Tuesday, citing a strengthening dollar.

Shares of the Dow component (JNJ) fell 1 percent to $123.45 in premarket trading. They have dropped 10.7 percent this year.

The healthcare conglomerate said it expects full-year sales of $80.5 billion to $81.3 billion, compared with a prior range of $81.0 billion to $81.8 billion.

J&J said it now expects adjusted earnings of $8.07 to $8.17 per share, compared with an earlier forecast of $8.00-$8.20 per share.

Analysts had expected full-year profit of $8.12 per share and sales of $81.47 billion, according to Thomson Reuters I/B/E/S.

Net earnings rose to $3.95 billion, or $1.45 per share, in the second quarter, from $3.83 billion, or $1.40 per share, a year earlier.

Excluding items, the company reported a profit of $2.10 per share, beating analysts' average estimate of $2.07.

Sales rose to $20.83 billion from $18.84 billion.

© 2019 Thomson/Reuters. All rights reserved.

   
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Johnson & Johnson lowered its sales forecast for 2018 on Tuesday, citing a strengthening dollar.Shares of the Dow component fell 1 percent to $123.45 in premarket trading.
johnson, shares, sales, j&j, stock
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2018-44-17
Tuesday, 17 July 2018 07:44 AM
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