Johnson & Johnson raised its full-year earnings and sales forecasts following a stronger-than-expected second quarter, driven by robust performance in its cancer drug portfolio. On Wednesday, the company projected adjusted earnings per share between $11.60 and $11.75 for 2026, up from the previous April guidance range of $11.45 to $11.65. It also increased its sales outlook to a range of $100.8 billion to $101.4 billion, compared with earlier estimates of $100.3 billion to $101.3 billion.

The revised guidance followed a second-quarter report that showed a 6.6% rise in sales to $25.31 billion, exceeding analysts' expectations of $25.02 billion, according to FactSet data. Net profit for the quarter was $5.53 billion, or $2.27 per share, slightly below last year’s $5.54 billion and $2.29 per share. However, adjusted earnings per share came in at $2.90, surpassing the consensus estimate of $2.85.

J&J’s pharmaceutical segment recorded a 7.8% sales increase, primarily fueled by strong demand for oncology medications such as Darzalex and Carvykti. Growth was further supported by immunology treatments including Tremfya and neuroscience drugs like Spravato. The company noted that gains in cancer and neuroscience drug sales helped compensate for declines in immunology revenue, which were impacted by competition from biosimilars targeting the psoriasis medication Stelara.

The medical-device division also reported overall sales growth, particularly in surgical products and orthopedics. However, sales of heart pumps declined after a study questioned the device’s effectiveness for a specific application. Chief Financial Officer Joseph Wolk acknowledged the study’s findings but pointed to multiple prior studies supporting the product’s efficacy.

The company said it remains confident in its product portfolio and expects continued momentum as it advances through the year.