Johnson & Johnson Profit Beats, Sales Slip 2.4%

NEW YORK (TheStreet) -- Consumer goods and drug company Johnson & Johnson(JNJ) beat analysts' first-quarter earnings estimates Tuesday reporting earnings excluding special items of $3.8 billion, or $1.37 a share.

This topped year-earlier earnings of $3.7 billion, or $1.36 a share. Analysts, s, on average, were calling for earnings of $1.35 a share.

Johnson & Johnson's net earnings were $3.9 billion, or $1.41 a share. The period included an after-tax gain related to the Synthes acquisition of $106 million and $276 million in after-tax charges from the DePuy ASR Hip recall and from litigation.

Global consumer sales were $3.6 billion, down 2.4% from last year. U.S. sales fell 2.2% and international sales declined 2.5%.

Shares of Johnson & Johnson ticked up 37 cents, or 0.58%, to $64.35 in premarket trading Tuesday.

-- Written by Alexandra Zendrian

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