Johnson & Johnson Profit Beats, Sales Slip 2.4%

NEW YORK ( TheStreet) -- Consumer goods and drug company Johnson & Johnson ( JNJ) beat analysts' first-quarter earnings estimates Tuesday reporting earnings excluding special items of $3.8 billion, or $1.37 a share.

This topped year-earlier earnings of $3.7 billion, or $1.36 a share. Analysts, s, on average, were calling for earnings of $1.35 a share.

Johnson & Johnson's net earnings were $3.9 billion, or $1.41 a share. The period included an after-tax gain related to the Synthes acquisition of $106 million and $276 million in after-tax charges from the DePuy ASR Hip recall and from litigation.

Global consumer sales were $3.6 billion, down 2.4% from last year. U.S. sales fell 2.2% and international sales declined 2.5%.

Shares of Johnson & Johnson ticked up 37 cents, or 0.58%, to $64.35 in premarket trading Tuesday.

-- Written by Alexandra Zendrian

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to: tips@thestreet.com.

>To follow the writer on Twitter, go to Alexandra Zendrian.

If you liked this article you might like

Roku, Nucana and Other IPOs That Should Be on Your Radar in 2017

Crazy Weak U.S. Dollar Will Make These 10 Companies Huge Winners

Cramer: Goldman's Downgrade Of J&J Is 'Questionable'

Johnson & Johnson Stock Sinks, Goldman Downgrades to 'Sell'

The Best Companies for Women