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Drug sales behind Johnson & Johnson Strong First Quarter Earnings

 (Image Source: forbes.com)

Johnson & Johnson (NYSE:JNJ) shares are trading higher this morning after the posted first quarter earnings that beat estimates. The company reported adjusted earnings per share of $1.54 on revenues of $18.12 billion. Analysts were expecting adjusted earnings per share of $1.47 on revenues of $18 billion. Pharmaceutical sales were one of the main drivers of revenue this quarter. For example, drug sales rose 11 percent in the quarter to $7.5 billion. Total revenue for the quarter rose 3.5 percent for the quarter. As a result of the strong earnings report, J&J increased its full year earnings outlook.