(Moderna) Moderna reported a net income of $3.7 billion in the first quarter of 2022, an increase of more than 300% from $1.2 billion in the prior year.
The robust net income in the first quarter was generated from total revenues of $6.1 billion by the biotech firm, an increase from $1.9 billion in the prior year.
The company said that its product sales hit $5.9 billion, mainly from Covid-19 vaccine, up from $1.7 billion in the prior year.
The diluted earnings per share was reported at $8.58 in the quarter, up from an EPS of $2.84 in the comparable quarter of 2021.
The biotech firm affirmed an advanced product sales agreement of about $21 billion. The company said it expects the Covid-19 dynamics to lead to slightly higher vaccine sales in the second half of the year compared to the first half.
MRNA: NASDAQ is up +6.02%
