J&J Q1 Earnings Beat, Raises Sales Forecast

Johnson & Johnson (J&J) reported first-quarter revenue of $21.89 billion, surpassing Wall Street expectations, largely due to strong sales of cancer drugs like Darzalex. Earnings per share were $2.77, beating analysts' estimates, while revenue from J&J's innovative medicines unit rose 2.3% year-over-year. The company raised its full-year sales forecast by $700 million but maintained its profit guidance, acknowledging the impact of tariffs and the dilution from its acquisition of Intra-Cellular Therapies. Despite international sales declining due to currency impacts, domestic sales increased significantly, and J&J's stock has risen about 6.7% this year, outperforming the broader market. The company's medtech business is expected to perform better in the latter half of the year.