Moderna posts first-ever quarterly profit in Q1

Yahoo Finance’s Brian Sozzi, Myles Udland, Julie Hyman, and Anjalee Khemlani break down Moderna’s latest earnings report and outlook for the company.

Video transcript

JULIE HYMAN: Well, and as you mentioned, you alluded to Moderna also reporting numbers this morning, right? And it looks like revenue actually came in below estimates. How does that happen when we are seeing such demand for the vaccines?

ANJALEE KHEMLANI: Well, to the point of the global outlook and the production part of it, we see Moderna has really focused on 2022. Right now, their focus is on fulfilling those supply commitments for next year for the booster market because they're really tapped out this year. And that may be where it comes from.

But it is important to note, it is their first profitable quarter, hitting that $1.9 billion mark, a majority of which is their COVID-19 vaccine, of course. And looking for next year, they have almost doubled their outlook for supply. So that is also going to be a key. So it seems like this year is kind of sort of done with and more of focus on next year.

JULIE HYMAN: Yeah, it makes sense, especially for a company of that size, unlike some of the larger drugmakers that have been making this vaccine. Thanks so much, Anjalee. Appreciate it.