Johnson & Johnson (JNJ) reported Q2 FY 2020 earnings of $1.67 per share (versus $2.58 per share in Q2 FY 2019), beating analysts’ consensus estimate of $1.51 per share.

The company’s quarterly revenues amounted to $18.336 bln (-10.8% y/y), beating analysts’ consensus estimate of $17.730 bln.

The company also issued raised guidance for FY2020, projecting EPS of $7.75-7.95 (compared to its previous forecast of $7.50-7.70 and analysts’ consensus estimate of $7.75) and revenues of $81.0-82.5 bln (compared to its previous forecast of $79.2-82.2 bln and analysts’ consensus estimate of $79.7 bln).

JNJ fell to $147.55 (-0.48%) in pre-market trading.