Moderna Stock Jumps on Q2 Earnings Beat

Moderna Stock Jumps 11% on Q2 Earnings Beat.

Moderna reported quarterly earnings of $5.24 per share which beat the analyst consensus estimate of $4.59 by 14.16 percent. This is a 18.89 percent decrease over earnings of $6.46 per share from the same period last year.

The company reported quarterly sales of $4.70 billion which beat the analyst consensus estimate of $4.07 billion by 15.48 percent. This is a 7.95 percent increase over sales of $4.35 billion the same period last year.Moderna Inc maintained its full-year sales outlook for its COVID-19 vaccine, following a similar prediction by bigger rival Pfizer Inc a week ago, amid tepid demand from low-to-middle income countries.

The company expects $21 billion in vaccine sales this year. The unchanged forecast comes despite Moderna's $1.74 billion deal last week with the U.S. government for 66 million doses of a vaccine updated for Omicron subvariants.

Market expectations of an increase in vaccine sales have been dropping, with analysts divided on the sustainability of that dizzying growth beyond 2022 on doubts over demand for booster doses.

Last year, Pfizer had raised its vaccine sales forecast every quarter, while Moderna hiked it several times.