Why Moderna Shares Are Trading Higher Today - Moderna (NASDAQ:MRNA)

Moderna Inc MRNA reports a Q1 EPS of $8.58, compared to the $2.84 posted a year ago, handsomely beating the consensus estimate of $5.21.
Total revenue was $6.1 billion compared to $1.9 billion in Q1 FY21, primarily due to increased product sales. The revenue consensus was $4.43 billion.
Product sales were $5.9 billion from the Company's COVID vaccine sales, compared to $1.7 billion a year ago.
Operating income more than doubled to $4.23 billion from $1.27 billion a year ago.
Moderna expects to have four programs in Phase 3 in Q2, including omicron-containing bivalent COVID booster, flu, RSV, and CMV.
The company held cash, cash equivalents, and investments as of March 31 of $19.3 billion.
Outlook: Moderna has signed 2022 Advanced Purchase Agreements for approximately $21 billion in product sales ($19 billion earlier).
The company believes that COVID market dynamics will result in sales slightly larger in 2H of 2022 than in 1H.
Price Action: MRNA shares are up 7.27% at $157.20 during the premarket session on the last check Wednesday.
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Here's Why Moderna Shares Are Trading Higher After Q1 Earnings Today