Johnson & Johnson (JNJ) Falls Despite Earnings Beat, Strong Olysio Sales

NEW YORK (TheStreet) -- Johnson & Johnson  (JNJ) fell Tuesday despite its second-quarter earnings report that beat analysts' expectations.

The healthcare company reported a 9.1% revenue increase to $19.5 billion, while analysts polled by Thomson Reuters expected $19 billion. The company's hepatitis C treatment Olysio climbed to $831 million worldwide for the quarter, up from $354 million in the first quarter and greater than most estimates.

Johnson & Johnson reported earnings per share of $1.51 and adjusted EPS of $1.66. Analysts polled by Thomson Reuters expected $1.55 a share.

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The company also increased its full-year earnings guidance, excluding items, to a range of $5.85 to $5.92, up from its previous forecast of $5.80 to $5.90 a share.

The stock was down 1.31% to $104 at 10:34 a.m.

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