Moderna Inc. revealed today that its revenues for the second quarter of the fiscal year rose to $4.4 billion, exceeding the $67 million recorded during the same period last year.
Meanwhile, the company's net income was $2.8 billion, up from last year's net loss of $117 million, while its diluted earnings per share moved from a loss per share of $0.31 in 2020 to earnings per share of $6.46 during the second quarter of 2021. The results beat market expectations, with Zacks Investment Research's average estimate of $6.01 earnings per share.
Moderna's shares have more than quadrupled since the beginning of the year, with the stock up fivefold in the past 12 months.
Moderna said it expects full-year coronavirus vaccine sales of about $20 billion based on signed contracts, about $800 million more than its previous forecast.
The company's shares were down 0.5% in pre-market trading immediately after the earnings release to indicate an opening price of $417.00 per share.
Late last month, Moderna shares were added to the S&P 500 index just days after the vaccine maker formally requested the US Food and Drug Administration for emergency approval to use the coronavirus release.