Johnson & Johnson released its latest earnings report before opening bell this morning, posting adjusted earnings of $1.56 per share on $17.4 billion in sales, a 4.1% decline year over year. Analysts had been expecting earnings of $1.53 per share on $17.3 billion in revenue.

Johnson & Johnson Beats Earnings Estimates, Cuts Outlook

Key metrics from Johnson & Johnson’s earnings report

Excluding impacts from divestures and acquisitions, operational global sales increased 5.7%, while domestic sales improved 9.1% and international sales declined 4%. Reported earnings were $1.53 per share or $4.3 billion.

For the Worldwide Consumer segment, sales fell 4.7% to $3.4 billion for the first quarter. The Worldwide Pharmaceutical segment saw revenue increase 4% to $7.7 billion. Sales from Johnson & Johnson’s Worldwide Medical Devices segment fell 11.4% year over year to $6.3 billion for the quarter.

“The company delivered strong underlying growth in the first quarter driven by new products and the strength of the core business,” Chairman and CEO Alex Gorsky said in a statement this morning. “Of note is the continued robust growth of the Pharmaceutical business and the solid performance of our Consumer brands. I am proud of our global teams who focus every day on delivering innovative solutions to address evolving health care needs.”

Johnson & Johnson revises guidance

Also this morning, Johnson & Johnson adjusted its full year non-GAAP earnings guidance to between $6.04 and $6.19 per share. The revision is due to fluctuations in foreign currencies. Analysts have been expecting adjusted earnings of $6.19 per share for the full 2015 fiscal year.

Other updates from the first quarter include an approval from the Food and Drug Administration for the use of Imbruvica to treat Waldenstrom’s Macroglobulinemia and Prezcobix to be used in combination with other drugs to treat HIV-1. The company also entered into an agreement with Cardinal Health to buy its Cordis segment for $1.99 billion.

As if this writing, shares of Johnson & Johnson were up 0.15% to $100.70 per share in premarket trading after this morning’s earnings report.