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Johnson & Johnson Reports First Quarter Earnings

Cristina Arias/Getty Images(NEW BRUNSWICK, N.J.) -- Johnson & Johnson posted nearly $16.2 billion in total sales for the first quarter of 2011 -- a 3.5 percent increase compared to the same period last year -- and net earnings close to $3.5 billion, or $1.25 per share.

The company on Tuesday also increased its earnings guidance for the year.

“Our pharmaceuticals business demonstrated strong growth this quarter led by the performance of recently launched products,” said J&J CEO William Weldon. “We delivered solid earnings while making the investments necessary to advance the robust pipelines across our businesses.”

Domestic sales decreased 13.8 percent, the company said, while international sales increased 5.9 percent.

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