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Moderna beat earnings estimates in Q3 2025 with strong respiratory vaccine sales, despite lower COVID-19 revenue and a revised annual outlook.
Moderna reported a better-than-expected third-quarter 2025 financial performance with $1.02 billion in revenue and a net loss of $0.51 per share, driven by strong respiratory vaccine sales despite a 45% year-over-year decline in COVID-19 vaccine revenue.
The company lowered its full-year revenue outlook to $1.6–2.0 billion, citing reduced government demand and new U.S. guidelines limiting access to updated shots.
Moderna cut operating expenses by 34% through efficiency gains and program prioritization, ending the quarter with $6.6 billion in cash.
It secured approvals for its updated COVID-19 and RSV vaccines in 40 countries, advanced its flu and flu-COVID combination vaccine candidates, and reported early positive data for an oncology therapy, while discontinuing a CMV vaccine program.
Moderna superó las estimaciones de ganancias en el tercer trimestre de 2025 con fuertes ventas de vacunas respiratorias, a pesar de menores ingresos por COVID-19 y una perspectiva anual revisada.