Moderna Adds 6% On Better-than-expected Quarterly Results

(RTTNews) - Shares of Moderna, Inc. (MRNA) are up more than 6 percent in pre-market on Thursday after reporting better-than-expected fourth-quarter results.

Although the company's profit as well as revenue were significantly lower than last year, primarily impacted by decline in Covid-19 product sales, they beat the consensus estimates.

Net income was $217 million or $0.55 per share for the fourth quarter, compared with $1.465 billion or $3.61 per share in the same quarter a year ago. On average, 17 analysts polled by Thomson-Reuters were expecting for a loss of $0.97 per share for the quarter.

Total revenue for the fourth quarter was $2.811 billion, a decrease from $5.084 billion in the same period last year, primarily due to a reduction in sales of the company's COVID-19 vaccine. The consensus estimate was for $2.49 billion.

Looking ahead, Moderna has reiterated its full-year product sales outlook of about $4 billion.

Moderna shares are up more than 6 percent in pre-market. The stock had closed at $87.59, up 0.69 percent on Wednesday. It has traded in the range of $62.55 - $163.24 in the last 1 year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.