The figures follow a forecast-busting first quarter, thanks also to strength in its pharmaceuticals business, and prompted the company once again to lift its full-year guidance. Johnson & Johnson shares had edged up 14 cents on Monday to $123.14. The stock has risen 27% in the past year. It was rising 3% in premarket trading on Tuesday.
The New Brunswick, N.J.-based company said sales rose 3.9% year on year to $18.5 billion. Analysts had been expecting sales of about $18 billion. Adjusted second-quarter earnings edged up 1.8% to $1.74 a share, compared with expectations for earnings of $1.66, and $1.71 last year.
The company said it suffered a 1.4% hit to the top line because of currency fluctuations. It also reported that it pulled in second-quarter net profit of $4.9 billion, excluding amortization and one-time items. That was a rise of 1.1%.
"We continue to see good momentum through the first half of 2016, delivering solid results in the second quarter, supported by strong underlying growth across our enterprise," said Chairman and CEO Alex Gorsky.
The company increased its sales guidance for the full year to between $71.5 billion and $72.2 billion, and its adjusted full-year earnings per share guidance to between $6.63 and $6.73. Back in April, it had predicted full-year sales of between $71.2 billion and $71.9 billion and earnings per share of between $6.53 and $6.68.
Pharmaceuticals sales once again powered ahead in the second quarter, rising 8.9% to $8.7 billion.
The company said consumer sales fell 1.8% to $3.4 billion, mainly because of currency losses, with the Neutrogena and Aveeno skincare products among its best performers.
Medical Devices sales rose 0.8% to $6.4 billion.
Johnson & Johnson completed several acquisitions in the quarter and last month said it would pay $3.3 billion for Vogue International, the maker of OGX shampoos. Analysts are keen to hear about its plans for the business and its strategy to revive its medical devices unit.