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• The company’s net income for the quarter surged to $3.66 billion
Moderna’s (NASDAQ: MRNA) first-quarter results surpassed analysts’ expectations after its revenue more than tripled from the year-ago quarter to $6.1 billion due to the sales of its COVID-19 vaccine.
The company’s net income for the quarter surged to $3.66 billion, a threefold increase over the $1.2 billion it reported in the same period last year.
Adjusted earnings per share were reported as $8.58 per share, versus the $5.21 per share estimated by analysts.
Future outlook
Moderna maintained its full-year guidance of $21 billion in COVID vaccine sales, based on signed agreements with governments, excluding orders from the U.S. The final number could come in higher.
“The Moderna team delivered a strong Q1 performance and I am thankful for the progress our team continues to make as we advance our pipeline of mRNA medicines,” said CEO Stéphane Bancel.
Bancel talked about the programs that the company would work on in the second quarter. “We expect to have four programs in late-stage Phase 3 studies including our Omicron-containing bivalent COVID booster, seasonal flu, RSV, and CMV vaccine candidates.”
Source - Moderna
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