Johnson & Johnson stock (JNJ) advanced as the pharmaceutical and health products company reported better-than-expected results and raised its guidance on stronger demand for its medical products.

The company announced the second quarter of fiscal 2023 earnings per share (EPS) in the amount of $2.80, p revenues up 6.3% to $25.53 billion. Both beat estimates.

Revenue at J&J’s MedTech division, which makes devices for surgery, orthopedics and vision, jumped 12.9% as many older Americans opted for medical procedures they had been putting off during the COVID-19 pandemic.

Pharmaceuticals revenue rose 3.1%, held down by declining sales of the company’s COVID-19 vaccine. Consumer health revenue rose 5.4%.

CEO Joaquin Duato said J&J enters the second half of the year in a strong position thanks to numerous catalysts, “including becoming a dual-sector company focused on innovation in pharma and MedTech.” In May, the company spun off its consumer health unit to an independent company called Kenvue (KVUE).

J&J raised its full-year earnings per share to $10.70 to $10.80, from $10.60 to $10.70 previously. They estimate revenue at $98.8 billion to $99.8 billion, compared with an earlier forecast of $97.9 billion to $98.9 billion.

Johnson & Johnson shares rose 6% in early Thursday trading on the news, but remained down for the year.