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Why Moderna Stock Jumped Today

TheMotleyFool

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Why Moderna Stock Jumped TodayPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

Shares of Moderna (NASDAQ: MRNA) rose 5.8% on Wednesday after the pharmaceutical leader delivered an impressive first-quarter report.

Moderna's revenue soared 213% to $6.1 billion. The company's net income, in turn, tripled to $3.7 billion, or $8.58 per share. Those figures were significantly above Wall Street's estimates. Analysts had forecast revenue and earnings per share of $4.6 billion and $5.21, respectively.

Moderna's vaccine, Spikevax, has become a key tool in the battle against COVID-19. The biotech generated $5.9 billion in vaccine sales in the first quarter, and management expects a total of $21 billion in 2022.

Source Fool.com

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