Moderna Inc. brought in $1.7 billion in sales of its COVID-19 vaccine in the first quarter of 2021, marking the company’s first significant billion-dollar revenue haul this year and also the first time it’s ever reported a GAAP profit. Moderna had earnings of $1.2 billion, or $2.84 per share, in the first quarter of 2021. This is compared to a loss of $124 million, or 35 cents per share, in the first quarter a year ago. The FactSet consensus was $2.39. Moderna had revenue of $1.9 billion for the quarter, up from $8 million in the same quarter a year ago. The FactSet consensus for revenue was $2.0 billion. This quarter marked the first time that the company has generated product revenue during the first three months of the year. About $1.7 billion of that came from sales of its COVID-19 vaccine. (Before receiving authorization from the Food and Drug Administration, it generated grant and collaboration revenue.) Moderna’s stock is up 55.8% for the year, while the S&P 500 has gained 10.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
