Moderna beats profit estimates, fueled by vaccine sales

Moderna Inc. posted better-than-expected profits for the last three months of 2021 as the company’s vaccine for Covid-19 continued to power its year-over-year growth.

In the latest quarter, Moderna’s revenue reached $7.21 billion, with nearly all of that coming from vaccine sales. The Cambridge, Mass., company said it distributed a total of 807 million shots last year.

More than 75 million people in the U.S. have been vaccinated with Moderna’s shots, and about 40 million have been given the company’s boosters, according to data from the Centers for Disease Control and Prevention. That makes its vaccine the second most used in the U.S., behind the vaccine developed by Pfizer Inc. and BioNTech SE.

Recently, the Food and Drug Administration has been in the early stages of reviewing data to decide whether to authorize a second round of Covid-19 booster shots, with an eye toward offering the shots in the fall.

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