Johnson & Johnson (NYSE:JNJ) shares are trading higher Tuesday after the company reported mixed financial results and increased its dividend.
Johnson & Johnson said first-quarter revenue grew 5% year-over-year to $23.43 billion, which came in below the $23.67 billion estimate. The company reported quarterly adjusted earnings of $2.67 per share, which beat the estimate of $2.61 per share, according to data from Benzinga Pro
Johnson & Johnson maintained its 2022 full-year guidance for adjusted operational earnings per share and base business operational sales. However, given global supply chain and demand uncertainty, the company suspended COVID-19 vaccine sales guidance.
Johnson & Johnson expects operational revenue to be between $97.3 billion and $98.3 billion. Operational earnings are expected to be in a range of $10.60 to $10.80 per share.
Related Link: Johnson & Johnson Suspends Sales Forecast For COVID-19 Vaccine, Trims FY22 Profit Outlook
Johnson & Johnson also announced a 6.6% increase in the company's quarterly dividend, from $1.06 per share to $1.13 per share.
JNJ 52-Week Range: $155.72 - $184.20
The stock was up 1.76% at $180.81 at time of publication.
Photo: kkolosov from Pixabay.
