J&J Q2 revenue up 4.3% but GAAP EPS falls 5.9%; adjusted EPS rises 10.2%

JOHNSON & JOHNSON

2024-Q2 EPS reported $3.27 revenue$43,830,000,000

Q2 2024 revenue $22.4B, +4.3% YoY; GAAP diluted EPS $1.93, -5.9% YoY; adjusted diluted EPS $2.82, +10.2% YoY.
Innovative Medicine (ex-COVID) revenue $14.3B, +6.5% operational; MedTech revenue $7.96B, +2.2% reported.
GAAP net earnings from continuing ops $4.69B, -12.8% YoY, impacted by $194M IPR&D impairments and prior-year gains.
Adjusted net earnings from continuing ops $6.84B, +1.6% YoY; effective tax rate up to 18.5% from 14.7%.
Share repurchase reduced diluted share count to 2,422M from 2,626M YoY, boosting adjusted EPS growth.

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