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Johnson & Johnson (JNJ) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 23, 2026
Johnson & Johnson (JNJ) reported revenue of $25.3B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +5% from the quarter before. Operating margin was 26.7%, net earnings $5.5B (21.9% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $25.3B | +5% | +7% |
| Gross profit | $17.3B | +8% | +7% |
| Operating profit | $6.7B | +13% | +4% |
| Net earnings | $5.5B | +6% | -0.1% |
| Operating cash flow | $8.6B | +243% | +122% |
| Free cash flow | $7.3B | +398% | +157% |
What changed
Revenue was $25.3B in Q2 2026, up 7% year over year and up 5% from the previous quarter. Innovative Medicine was the largest line at 65% of revenue. Innovative Medicine added $1.2B year over year (up 8%), 75% of the total change.
Gross margin was 68.2%, up 0.3 points from Q2 2025. Operating profit was $6.7B, a 26.7% margin (down 0.7 points year over year). Of the extra revenue versus Q2 2025, 16% reached operating profit, below the 27% margin then. Operating expenses grew 9% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+95%). Net earnings were $5.5B, roughly flat year over year. The effective tax rate was 18.0%.
Operating cash flow was $8.6B (up 122% year over year), 156% of net earnings. Non-cash charges added back $2.0B of depreciation and amortization and $0.46B of share-based compensation. Working capital and other items added $0.67B. Capital expenditures of $1.3B left free cash flow of $7.3B.
Questions
What was Johnson & Johnson's revenue in the second quarter 2026?
Johnson & Johnson (JNJ) reported revenue of $25.3B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +5% from the quarter before.
Was Johnson & Johnson profitable in the second quarter 2026?
Operating profit was $6.7B (26.7% of revenue) and net earnings $5.5B.
Source: Johnson & Johnson 10-Q on SEC EDGAR.