Moderna rakes in surprise profits ahead of 400% vaccine price hike
by Beth Mole from Ars Technica - All content on (#6BFZF)
Enlarge / Moderna CEO Stephane Bancel during a Bloomberg Television interview on the closing day of the World Economic Forum in Davos, Switzerland, on May 26, 2022. (credit: Getty | Jason Alden)
Things are looking rosy for Moderna, as it reported unexpected first-quarter profits Thursday. But the company is not wavering in its plans to dramatically hike the price of its COVID-19 vaccines.
While financial analysts expected the company to post revenue of $1.18 billion and a loss of $1.77 per share in the first quarter, the company reported $1.86 billion in revenue with a small profit of 19 cents per share.
The company forecasts $5 billion in COVID vaccine sales for this year.