J&J Q2 - Beat On Revenue & Profits

Yesterday, before the US market opened, Johnson & Johnson reported their quarterly results. The company is a bit boring but consistent, trotting along with steady and stable growth. Thanks to this predictability, the J&J share price has held all of its value this year, even with the broader market being down about 20%.

J&J reported better revenue and profit for the quarter than the street expected. Unfortunately, the company had to lower their guidance due to a strong Dollar. When the results from their large international operations are translated into USD for reporting purposes, a stronger Dollar automatically lowers the performance.

The company is still on track to spin off the smaller consumer division, which sells things like Band-Aid and Listerine. Focus now shifts to bulking up the medical devices division, a good move in our opinion due to lower regulation in the sector and expected high growth from an ageing global population.

J&J is the stock in your portfolio which will plod along, adding stability and paying a good dividend. In the current volatile times, those characteristics are appreciated.