Johnson & Johnson results beat expectations

The diversified healthcare firm earns $3.8 bn as compared to $1.41 bn in the year-ago period

Johnson & Johnson reported higher-than-expected second-quarter earnings as strong sales of prescription drugs and medical devices more than offset anemic growth of its consumer products.

The diversified healthcare company said on Tuesday that it earned $3.8 billion, or $1.33 per share. That compared with $1.41 billion, or 50 cents per share, in the year-earlier period, when J&J took $2.2 billion in charges for the writedown of research assets, litigation expenses and merger-related costs. Excluding special items, J&J earned $1.48 per share.

Analysts on average expected $1.39, according to Thomson Reuters I/B/E/S.