Here's How Moderna Turned a Profit in Q1 Despite Its Sales Declining by 69%
Moderna (NASDAQ: MRNA) surprised investors last quarter when it didn't incur a loss despite a significant drop in sales. 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%.