Moderna delivered a substantial beat on third-quarter results, reporting revenue of $1.31 billion against analyst estimates of $888.1 million and earnings per share of 38 cents versus the modeled loss of $1.09 per share.
The company's R&D expenses totaled $583 million, well below the $750 million estimate, while total operating expenses reached $1.18 billion against anticipated $1.37 billion. The combination of revenue strength and disciplined cost control drove unexpected profitability.
Cash and cash equivalents stood at $1.20 billion at quarter-end, down from the estimated $1.37 billion, reflecting higher-than-projected burn.
Moderna narrowed its full-year capital expenditure guidance to $200 million from a prior range of $200 million to $300 million, below the $244.1 million analyst estimate. The company also cut full-year R&D spending guidance to approximately $2.7 billion from approximately $2.9 billion, signaling a more disciplined approach to resource deployment heading into 2025.
