Moderna, Inc Q2 Loss Decreases, Beats Estimates

(RTTNews) - Moderna, Inc (MRNA) announced Loss for second quarter that decreased from the same period last year and beat the Street estimates.

The company's earnings came in at -$825 million, or -$2.13 per share. This compares with -$1.279 billion, or -$3.33 per share, last year.

Analysts on average had expected the company to earn -$2.97 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 41.1% to $142 million from $241 million last year.

Moderna, Inc earnings at a glance (GAAP) :

-Earnings: -$825 Mln. vs. -$1.279 Bln. last year. -EPS: -$2.13 vs. -$3.33 last year. -Revenue: $142 Mln vs. $241 Mln last year.

This decline in second-quarter revenue was primarily due to lower Covid vaccine sales, which totaled $114 million in the quarter. The demand is expected to be concentrated in the second half of the year, aligning with the fall and winter seasons as the vaccine continues to transition into a seasonal respiratory product.

Looking ahead, for fiscal 2025, the drug maker updated its projected revenue range to $1.5 to $2.2 billion, reflecting a $300 million reduction at the high end of the range. This is due to the timing shift of deliveries of contracted revenue for the U.K. into the first quarter of 2026.

MRNA was down by 5.82% at $27.84 in the pre-market trade on the Nasdaq.