Johnson & Johnson reports second quarter profit increases
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Johnson & Johnson (JNJ) announced its financial results for second quarter fiscal 2013, reporting $17.9B in earnings, up from $16.5B the same quarter last year. The $17.9B in earnings and $1.48 earnings per share beat analyst expectations of $17.7B and earnings per share of $1.39. The company has raised its annual guidance from $5.35 to $5.45 per share up to $5.40 to $5.47 per share. The sale of its share in Elan for $1.26B distorted the financial results in a positive way but regardless of the sale, the increase in its guidance has all analysts optimistic. J&J attributes a lot of its success this quarter to the increased demand of its newer pharmaceutical products including Zytiga, a prostate cancer medicine, and Xarelto, a blood thinner.