Here's How Moderna Turned a Profit in Q1 Despite Its Sales Declining by 69%
(NASDAQ: MRNA) surprised investors last quarter when it didn't incur a loss despite a significant drop in sales. But how was the vaccine maker able to stay out of the red? And can it continue to do so even as sales nosedive? Here's a closer look at how the company managed to post a positive net income number in Q1.
For the first three months of 2023, Moderna's revenue totaled just under $1.9 billion, which is just a fraction of the $6.1 billion it reported in the same period last year. Meanwhile, its operating expenses, totaling $2.2 billion, rose by more than 21%. The company incurred an operating loss of $366 million for the period, and the only reason it didn't stay in the red was due to a tax benefit of $384 million that reduced its expenses.
Source Fool.com
Moderna Inc. Stock
The stock is one of the favorites of our community with 21 Buy predictions and 2 Sell predictions.
With a target price of 130 € there is a hugely positive potential of 85.71% for Moderna Inc. compared to the current price of 70.0 €.
