Second-quarter profits were much higher than expected, as biotechnology company COVID-19 vaccine sales of 199 million doses boosted sales of products that far exceeded expectations, reported Thursday. It exceeded. Stocks fell 0.4% in pre-market trading after a 20.9% surge in the last two days closing at a record $ 419.05 on Wednesday. Net income for the quarter to June 30 was $ 2.78 billion ($ 6.46 per share) after a loss of $ 117 million (31 cents per share) in the year-ago quarter. FactSet’s consensus on earnings per share was $ 4.96. Revenues increased from just $ 67 million to $ 4.35 billion, surpassing FactSet’s consensus of $ 4.21 billion, as product sales increased from zero to the highest forecast of $ 4.16 billion to $ 4.20 billion. The company expects pre-purchase agreements (APAs) for product sales to range from $ 19.2 billion announced in May to $ 20 billion, and from 2022 to $ 12 billion in product sales and $ 8 billion in optional APA. Said signed. COVID capacity-19 vaccines are expected to reach 800 to 1 billion doses in 2021 and increase to 2 to 3 billion doses in 2022. Inventory surges 301.1% annually until Wednesday, S & P 500
It advanced 17.2%.
With 199 million COVID-19 vaccines sold, Moderna outperformed its significant second-quarter profits.
Source link With 199 million COVID-19 vaccines sold, Moderna outperformed its significant second-quarter profits.