(Corrects headline to say results topped estimates)
Moderna Inc. (MRNA) reported a profit for the second quarter compared to a loss in the previous year, reflecting surging revenues amid vaccine sales. Total revenue for the quarter surged from last year, resulting from commercial sales of the company's COVID-19 vaccine in the U.S.
Quarterly earnings per share and revenues topped analysts' expectations. The company raised its 2021 sales forecast for its COVID-19 vaccine.
The company raised its 2021 sales outlook for its COVID-19 vaccine to $20.0 billion from the prior outlook of $19.2 billion, based on Advance Purchase Agreements (APAs) signed. However, the company maintained its 2021 supply forecast of between 800 million and 1 billion doses.
For fiscal 2022, the company has already signed APAs for product sales of approximately $12 billion and options of approximately $8 billion, with numerous additional negotiations still ongoing for 2022 APAs. It also expects dose capacity for its COVID-19 vaccine for the year to be between 2 billion to 3 billion doses, subject to dose level.
For fiscal 2023, the company has also started to sign APAs as forward-looking countries prepare for the endemic phase of COVID-19.
The Board of Directors has also authorized a share repurchase program of up to $1 billion over a two-year period to return excess capital to shareholders.
For the second quarter, the company reported net income of $2.78 billion or $6.36 per share, compared to a net loss of $117 million or $0.31 per share in the prior-year quarter.
On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $6.04 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter surged to $4.35 billion from last year's $67 million, resulting from commercial sales of the Company's COVID-19 vaccine, and to a lesser extent, grant revenue. Analysts expected revenues of $4.28 billion for the quarter.
Product sales for the quarter were $4.20 billion from sales of the company's COVID-19 vaccine. The increase in grant revenue of $101 million was primarily driven by an increase in revenue from BARDA related to the company's COVID-19 vaccine development.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.