Johnson & Johnson Earnings Top Estimates Despite Headwinds

Johnson and Johnson (JNJ) posted earnings on Tuesday that topped Wall Street estimates. The health and personal care giant faced currency headwinds due to the strong dollar but has increased its outlook for 2015, boosting guidance to $6.10-$6.20 per share for the year, up from $6.04-$6.19 per share. The company reported profits of $1.71 per share, up from last year's numbers and beating Wall Street estimates. Revenue was down almost 9 percent from $19.5 billion to $17.8 billion but topped estimates. The brand has topped estimates for the last 17 quarters in a run of over four years. The company's pharmaceutical division was a bright spot. Sales of its arthritis drug Simponi jumped 30 percent in the U.S. market. Johnson and Johnson also announced last month that it had received FDA approval for a new schizophrenia treatment which only needs to be administered four times a year, giving patients greater independence from their dosing. Johnson and Johnson shares have dropped almost 4 percent in the last year.