Filing Flows › Johnson & Johnson (JNJ) › Q2 2025
Johnson & Johnson (JNJ) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 24, 2025
Johnson & Johnson (JNJ) reported revenue of $23.7B for the second quarter 2025 (Q2 2025), +6% from a year earlier and +8% from the quarter before. Operating margin was 27.3%, net earnings $5.5B (23.3% of revenue).
Johnson & Johnson, Q2 2025: revenue $23.7B (+6% year over year), operating margin 27.3%, net earnings $5.5B, operating cash flow $3.9B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.7B | +8% | +6% |
| Gross profit | $16.1B | +11% | +3% |
| Operating profit | $6.5B | -52% | +13% |
| Net earnings | $5.5B | -50% | +18% |
| Operating cash flow | $3.9B | -7% | -31% |
| Free cash flow | $2.8B | -16% | -39% |
What changed
Revenue was $23.7B in Q2 2025, up 6% year over year and up 8% from the previous quarter. Innovative Medicine was the largest line at 64% of revenue. Innovative Medicine added $0.71B year over year (up 5%), 55% of the total change.
Gross margin was 67.9%, down 1.5 points from a year earlier. Operating profit was $6.5B, a 27.3% margin (up 1.7 points year over year). Of the extra revenue versus a year earlier, 57% reached operating profit, above the 26% margin then. Operating expenses fell 2% while revenue rose 6%. Net earnings were $5.5B, up 18% year over year. The effective tax rate was 14.7%.
Operating cash flow was $3.9B (down 31% year over year), 70% of net earnings. Non-cash charges added back $1.9B of depreciation and amortization and $0.41B of share-based compensation. Working capital and other items used $4.0B. Capital expenditures of $1.0B left free cash flow of $2.8B.
Questions
What was Johnson & Johnson's revenue in the second quarter 2025?
Johnson & Johnson (JNJ) reported revenue of $23.7B for the second quarter 2025 (Q2 2025), +6% from a year earlier and +8% from the quarter before.
Was Johnson & Johnson profitable in the second quarter 2025?
Operating profit was $6.5B (27.3% of revenue) and net earnings $5.5B.
Source: Johnson & Johnson 10-Q on SEC EDGAR.