A quarterly bottom line that was deep in the red sent (NASDAQ: MRNA) shareholders booking for the exits on Thursday. Following the release of its third-quarter figures, the high-profile biotech's stock lost nearly 7% of its value on the day. By contrast, the S 500 index was in positive territory, closing the day 1.9% higher.

That morning, Moderna published its latest earnings release. This showed that the company's revenue was slightly over $1.8 billion, which compares unfavorably to the third-quarter 2022 tally of almost $3.4 billion. On the bright side, that take was well higher than the $1.4 billion average analyst estimate.

The situation was far more dramatic on the bottom line. The biotech flipped violently to a generally accepted accounting principles (GAAP) loss of more than $3.6 billion ($9.53 per share) from the year-ago profit of more than $1.0 billion. This almost certainly caught those analysts by surprise, as collectively, they were expecting a shortfall of only $1.90 per share.

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Source Fool.com