Andrew Harrer | Bloomberg | Getty Images
Johnson & Johnson on Tuesday posted a 23.3% fall in quarterly profit and cut its full-year adjusted profit forecast as a stronger dollar dragged on its sales outside the United States.
The company now expects a full-year adjusted profit of $10.00 to $10.10 per share, from its prior forecast of $10.15 to $10.35.
Johnson & Johnson’s net earnings fell to $4.81 billion, or $1.80 per share, in the second quarter, from $6.28 billion, or $2.35 per share, a year earlier.
Major U.S. multinationals, including Microsoft and Coca-Cola, have warned of a knock from the strength of the U.S. currency, driven by fears of a global recession.
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