Filing Flows › Johnson & Johnson (JNJ) › Q2 2026 › vs Q1 2026
Johnson & Johnson (JNJ) Q2 2026 vs Q1 2026 (quarter over quarter)
Johnson & Johnson's revenue rose $1.2B (+5%) from $24.1B in Q1 2026 to $25.3B in Q2 2026. The biggest changes: Innovative Medicine +$958M (+6%); MEDTECH +$290M (+3%). Gross margin 68.2% against 66.3% (+1.9 pts).
Johnson & Johnson, Q2 2026: revenue $25.3B (+7% year over year), operating margin 26.7%, net earnings $5.5B, operating cash flow $8.6B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 68.2% | 66.3% | +1.9 pts |
| Operating margin | 26.7% | 24.9% | +1.8 pts |
| Net margin | 21.9% | 21.8% | +0.1 pts |
| Free cash flow margin | 28.8% | 6.1% | +22.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Innovative Medicine | $16.4B | $15.4B | $958M | +6% |
| MEDTECH | $8.9B | $8.6B | $290M | +3% |
| Revenue | $25.3B | $24.1B | $1.2B | +5% |
| Gross profit | $17.3B | $16.0B | $1.3B | +8% |
| Cost of revenue | $8.1B | $8.1B | −$55.0M | -0.7% |
| Operating profit | $6.7B | $6.0B | $757M | +13% |
| Operating expenses | $10.5B | $10.0B | $546M | +5% |
| Pre-tax earnings | $6.7B | $6.0B | $757M | +13% |
| Research & development | $3.7B | $3.5B | $126M | +4% |
| SG&A | $6.4B | $6.0B | $398M | +7% |
| Other operating costs | $427M | $405M | $22.0M | +5% |
| Net earnings | $5.5B | $5.2B | $299M | +6% |
| Income tax | $1.2B | $755M | $458M | +61% |
| Depreciation & amortization | $2.0B | $2.0B | −$45.0M | -2% |
| Share-based compensation | $458M | $300M | $158M | +53% |
| Working capital & other | $665M | −$5.0B | $5.7B | — |
| Operating cash flow | $8.6B | $2.5B | $6.1B | +243% |
| Free cash flow (OCF − capex) | $7.3B | $1.5B | $5.8B | +398% |
| Capital expenditures | $1.3B | $1.0B | $272M | +26% |
Questions
How much did Johnson & Johnson's revenue grow quarter over quarter in Q2 2026?
Johnson & Johnson's revenue rose $1.2B (+5%) from $24.1B in Q1 2026 to $25.3B in Q2 2026.
What drove Johnson & Johnson's revenue change in Q2 2026?
Innovative Medicine +$958M (+6%); MEDTECH +$290M (+3%).