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Moderna (NASDAQ:MRNA) stock is rising on Wednesday as the vaccine company reports earnings for the second quarter of 2022.
The positive earnings report from Moderna starts with diluted earnings per share of $5.24. That’s well above the $4.55 per share that Wall Street was expecting this quarter — even if it is a drop from the $6.46 reported during the same time last year.
To go along with that, the Covid-19 vaccine maker reported revenue of $4.7 billion for Q2 2022. Yet again, that beats out the $4.07 billion that analysts were looking for during the quarter. It’s also an increase over the $4.4 billion reported during the same period of the year prior.
Stéphane Bancel, CEO of Moderna, said the following in the earnings report.
“Today’s earnings represent a strong second quarter performance, with $10.8 billion in revenue for the first half of the year. We continue to have advance purchase agreements for expected delivery in 2022 of around $21 billion of sales.”
MRNA Stock: More Vaccines Are on the Way
Moderna also notes that its development pipeline is strong with four vaccines for infectious diseases in Phase 3 clinical trials. It also expects “important data from proof-of-concept studies in rare diseases and immuno-oncology,” later this year.
MRNA stock is up 10.6% as of Wednesday morning but is still down 24.4% since the start of the year.
There’s more recent stock market news traders will want to know about below!
InvestorPlace has all of the latest stock coverage traders need to know about today! For Wednesday, that includes this morning’s pre-market stock movers, AMC Entertainment’s (NYSE:AMC) preparing for an earnings release and more. You can find all of this news at the links below!
More Wednesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
- AMC Stock: 3 Things to Watch When AMC Reports Earnings
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
