Moderna Q3 2024 Earnings Report: Business News Overview
Moderna Q3 2024 Earnings Summary
Biotechnology company Moderna, Inc. (NASDAQ: MRNA) reported an impressive net income for the third quarter of 2024, contrasting sharply with a loss reported last year. The Q3 revenues reached $1.86 billion, up from $1.83 billion in the previous year.
Financial Highlights
- Net Profit: $13 million in Q3, compared to a significant loss of $3.63 billion last year.
- Earnings Per Share: $0.03 against a loss of $9.53 per share in the same period last year.
- Product Sales: $1.8 billion for the quarter, an increase of 4% year-over-year.
Future Expectations
For fiscal 2024, Moderna projects total product sales between $3.0 billion and $3.5 billion, with anticipated costs of sales in the range of 40-45% of product sales. As of September 30, 2024, cash and cash equivalents stood at $9.2 billion, down from $10.8 billion last year. This earnings report underlines key insights into the biotechnology and pharmaceuticals sectors, impacting the overall health care landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.