Moderna reported third-quarter earnings that significantly exceeded Wall Street expectations, with earnings per share of 38 cents compared to an anticipated loss of $1.25, and revenue of $1.31 billion versus the expected $885.1 million.
This performance was bolstered by a 29% increase in revenue, attributed to higher sales of Covid vaccines in international markets and long-term government contracts.
CEO Stéphane Bancel highlighted the impact of the company's next-generation mRNA Covid vaccine, which received U.S. approval in May 2025, and noted that the seasonal nature of the Covid vaccine business means that the product had a limited launch last year. Additionally, Moderna's new flu vaccine, approved in August, is expected to have a similar limited launch in 2026.
Following the earnings report, Moderna's stock rose approximately 10% in premarket trading, reflecting investor optimism, particularly regarding the company's personalized cancer vaccine in collaboration with Merck. Despite some volatility due to leaked trial data, Bancel expressed confidence in the positive reception from long-term investors and medical professionals.
Overall, Moderna's revised revenue growth forecast for 2026 now stands at 15% to 25%, an increase from the previous guidance of up to 10%