Moderna Posts Unexpected Q3 Profit, Driven by Cost Cuts and Strong Covid Vaccine Sales

Benzinga

Moderna posted a surprising third-quarter profit, driven by cost-cutting and higher-than-expected Covid vaccine sales. Moderna’s earnings per share and revenue surpassed Wall Street expectations, with earnings reaching a surprising profit and revenue exceeding projected figures. Moderna’s new RSV vaccine added $10 million in U.S. sales. The company reiterated its 2024 outlook. Moderna plans further expense reductions, targeting $1 billion in savings by 2027. Shares remain down nearly 50% for the year.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Moderna posted a surprising third quarter profit driven by cost cutting and higher than expected

00:07COVID vaccine sales. Moderna's earnings per share in revenue both surpassed Wall Street

00:12expectations, with earnings reaching a surprising profit and revenue exceeding projected figures.

00:17Moderna's new RSV vaccine added $10 million in U.S. sales. The company reiterated its 2024

00:24outlook. Moderna plans further expense reductions targeting $1 billion in savings by 2027.

00:31Shares remain down nearly 50% for the year. For all things money, visit Benzinga.com slash GSTV.

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