Moderna's Q3 Profit Boosts Stock Amid Strong COVID Vaccine Sales

Moderna reported third-quarter 2024 revenues of $1.9 billion, with a net income of $13 million and earnings per share of $0.03. The company achieved year-to-date product sales of $2.2 billion and expects 2024 sales to reach $3.0 to $3.5 billion. Moderna launched updated COVID-19 and RSV vaccines globally and initiated Phase 3 trials for norovirus and influenza vaccines. The company also expanded its executive committee and announced strategic initiatives, including a joint agreement in Taiwan and a new manufacturing facility in Quebec. Moderna remains focused on driving sales growth and reducing costs.