Moderna (MRNA) earnings Q3 2024
From CNBC: 2024-11-07 06:34:31
Moderna surprised with a profit in Q3, reporting $13 million in net income, compared to a $3.63 billion loss last year. The company is cutting costs to save $1.1 billion by 2027. Moderna’s newest Covid vaccine had higher sales than expected due to an earlier U.S. approval, shipping out more doses quicker.
In Q3, Moderna reported earnings per share of 3 cents, beating expected losses of $1.90, and revenue of $1.86 billion, higher than the expected $1.25 billion. Most revenue came from the Covid shot, with $1.2 billion in U.S. sales. RSV shot sales were lower than expected at $10 million in the U.S.
Moderna is betting on its messenger RNA platform for future success, with 45 products in development and plans to bring 10 to market in the next three years. The company is developing a standalone flu shot, personalized cancer vaccine with Merck, and shots for latent viruses. Cost of sales in Q3 was $514 million, down 77% from last year.
Read more at CNBC: Moderna (MRNA) earnings Q3 2024