Moderna Beats Q1 Estimates, Plans RSV Vaccine Launch Despite Revenue Drop

May 2, 2024, 12:05 PM

Moderna Inc. reported first-quarter earnings that surpassed analyst expectations, with earnings per share of $(3.07) beating estimates of $(3.55) and sales totaling $167 million, exceeding the forecast of $97.5 million. The company's revenue, however, saw a significant decline of 91% compared to the previous year, primarily due to a drop in Covid vaccine sales. Despite the decline, the revenue still topped expectations. Moderna's Spikevax vaccine generated $167 million in sales, including $100 million in U.S. sales and $67 million internationally. The company also announced plans to launch an RSV vaccine in the fall.