Johnson & Johnson reported strong second-quarter financial results that exceeded Wall Street's expectations. The company's revenue and adjusted earnings were higher than analysts' estimates, largely due to increased sales from its MedTech division. Quarterly sales grew by 6.3% compared to the same period last year, resulting in a net income of $5.14 billion, or $1.96 per share. J&J raised its full-year sales guidance to a range of $98.80 billion to $99.80 billion, which is about $1 billion higher than the previous forecast given in April. The company also raised its adjusted earnings outlook for 2023 to $10.70 to $10.80 per share, compared to the earlier forecast of $10.60 to $10.70 per share.
