Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold
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Moderna reported a surprise profit for Q3, surpassing Wall Street expectations due to effective cost-cutting measures and higher-than-expected Covid vaccine sales. The new Covid vaccine gained an advantage by receiving U.S. approval three weeks earlier than its predecessor in 2023.
November 07, 2024 | 11:45 am
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Moderna's Q3 earnings exceeded expectations due to successful cost-cutting and strong Covid vaccine sales. The new vaccine's early U.S. approval contributed to this performance.
Moderna's unexpected profit in Q3, driven by cost reductions and robust vaccine sales, is likely to positively impact its stock price. The early approval of the new vaccine in the U.S. provided a competitive edge, enhancing sales performance.
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