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The
diversified healthcare company's sales rose to $17.77 billion in
the first quarter from $17.48 billion a year earlier, but came
in below analysts' average estimate of $18.04 billion, according
to Thomson Reuters I/B/E/S.
Pharmaceutical sales rose 0.8 percent to $8.25 billion, below
Barclays estimate of $8.47 billion.
Net earnings in the quarter were $4.42 billion, or $1.61 per
share, compared with $4.46 billion, or $1.59 per share, in the
year-earlier period.
Excluding items, the company earned $1.83 per share, beating
Street expectations of $1.77 per share.
J&J is the first among major pharmaceutical companies to report
quarterly results, a month after the Republican attempt to
overhaul the U.S. healthcare system spectacularly failed,
although a renewed effort is said to be in the works.
The company's shares slipped nearly 1 percent to $124.60 in
premarket trading.
(Reporting by Natalie Grover in Bengaluru; Editing by Martina
D'Couto)
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