Pandemic impacts J&J results and outlook

Johnson & Johnson (NYSE: JNJ) has reported first quarter 2020 sales of $20.7 billion, beating analysts’ expectations with net earnings of $5.8 billion, an increase of 54.6% from the same period last year, and sending the firm's shares 4.5% higher.

The New Jersey, USA-headquartered firm - the first pharma major to report financials - was bolstered by higher-than-expected sales in oncology, as well as for over-the-counter products such as Tylenol (acetaminophen).

However, despite posting an earnings per share (EPS) figure of $2.30, up 9.5% following Generally Accepted Accounting Principles (GAAP), the COVID-19 pandemic took its toll on the full-year forecast.