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J&J profit slides 35% as virus forces hospitals to forgo surgeries

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Johnson & Johnson products on a shelf in a store in New York.

Lucas Jackson | Reuters

Johnson & Johnson‘s second-quarter profit slid 35% from a year earlier as the coronavirus forced hospitals to postpone elective surgeries, hitting the company’s medical device business hard.

J&J said Thursday it earned $3.63 billion, or $1.36 per share, during the three months ended June 30, a 34.6% drop from $5.6 billion a year earlier as sales in its medical device unit fell. The decline in its medical device unit was partially offset by higher sales for its over-the-counter products such as Tylenol and its Listerine mouthwash. 

Shares of J&J were flat in premarket trading after the earnings…



Source cnbc.com

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