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Johnson & Johnson Q2 Earnings Preview: Can New Drugs Lift Sagging Stock?

Johnson & Johnson (NYSE:JNJ) was one of the worst-performing Dow Jones Industrial Average stocks in the first half of 2024. Investors and analysts will be looking for the company to show progress from a mixed first quarter when second-quarter financial results are reported Wednesday, July 17. Earnings Estimates: Analysts expect Johnson & Johnson to report second-quarter revenue of $22.31 billion, according to data from Benzinga Pro. The company reported revenue of $25.53 billion in last year's second quarter, meaning analysts see a revenue decline on a year-over-year basis. Johnson & Johnson has beaten revenue estimates in six of the past 10 quarters and four of the last five quarters. Analysts expect Johnson & Johnson to report second-quarter earnings per share of $2.70, which would be a decline from $2.80 reported in last year's second quarter. The company has beaten analysts’ estimates for earnings per share in the last 10 straight quarters. Guidance from the company calls for full year sales of $88.7 billion to $89.1 billion, which was ahead of previous consensus estimates. The company estimates that full fiscal year earnings per share will be in a range of $10.57 to $10.72. What Analysts Are Saying: Johnson & Johnson is making noise in the intraocular lens segment, Stifel analyst Thomas Stephan said in a new investor note. The analyst surveyed 93 U.S. ...