Moderna Stock Tumbles On Softer Covid Vaccine Sales Forecast

Moderna Stock Tumbles On Softer Covid Vaccine Sales Forecast

moderna (MRNA) Shares fell lower Thursday after the drugmaker posted stronger-than-expected third-quarter results, but lowered its near-term forecast for vaccine revenue amid supply chain bottlenecks that will postpone some sales into next year.

Moderna posted diluted GAAP earnings of $2.53 per share for the three months ended September, down 67% from the same period last year, but well above Street’s consensus forecast of $3.29 per share. The group’s revenue fell 30% to $3.4 billion, just below analysts’ estimates of a total of $3.53 billion.

.

You Might Also Like:

Leave a Reply

Your email address will not be published. Required fields are marked *