Originally published at www.seclive.com
Johnson & Johnson (NYSE:JNJ) announced its financial results for the first quarter of fiscal year 2014, reporting steady climbs in both revenue and earnings. The healthcare and pharmaceutical company reported revenue of $18.12B, a 3.5% increase from the year-ago quarter while also beating analyst predictions of $18.04B. Earnings jumped from $3.5B and $1.22 per share in 2013 to $4.73B and $1.64 per share, with its adjusted earnings per share of $1.54 beating $1.48 analyst estimates. CEO Alex Gorsky commented that the company performed well executing its short and long-term strategies as it positions itself for continued, long-term growth. With the continued growth of existing products and successful launches of new products, Gorsky believes this helps fuel the company's incremental success. With its strong results, Johnson & Johnson increased its annual earnings guidance to between $5.80 and $5.90 per share, up from $5.75 and $5.85 per share.
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