Johnson & Johnson tops Wall Street expectations and lifts forecast

July 19, 2016 5:04 PM

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Johnson & Johnson (JNJ) boosted its sales and profit outlook for the year after reporting second-quarter financial results that beat Wall Street expectations, aided by growth in its pharmaceuticals business.

The company raised its full-year sales guidance of $71.5 billion to $72.2 billion, up from the sweetened forecast of $71.2 billion to $71.9 billion the company issued in April. It also increased its adjusted 2016 earnings guidance to a range of $6.63 to $6.73 per share, up from $6.53 to $6.68.

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