Moderna down as 4th-qtr earnings miss expectations
US mRNA specialist biotech Moderna (Nasdaq: MRNA) today reported financial results for the fourth quarter and fiscal year 2022 that disappointed and sent its shares down 7.5% at $146.63 in mid-morning in trading.
Total revenue for the fourth quarter of 2022 was $5.1 billion, down almost 30% compared to $7.2 billion in the same period in 2021, mainly due to a decrease in sales of the company's COVID-19 vaccines. However, this was in line with analyst expectations of $5.0 billion.
Net income decreased by 70% to $1.5 billion in the fourth quarter of 2022. Diluted earnings per share (EPS) plunged 68% to $3.61 in the fourth quarter of 2022, and well below analysts’ expectations of $4.68.
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