Moderna raised its 2026 revenue-growth forecast to 15% to 25% on Nov. 6, up from its previous outlook of up to 10%. Strong international COVID-19 vaccine demand and partnership payments helped the company return to profit in the third quarter, Reuters reported.
Third-quarter revenue rose 29% to $1.31 billion, beating the $885.1 million analysts expected in an LSEG survey cited by CNBC. Moderna posted net income of $162 million, or 38 cents per share, compared with a $200 million loss, or 51 cents per share, a year earlier. Analysts had expected a loss of $1.25 per share.
International demand lifts the quarter
CNBC reported that higher international COVID vaccine sales and deliveries under long-term government partnerships boosted revenue. The U.S. contributed $780 million, while international markets brought in $533 million. For the full year, Moderna expects roughly half its revenue to come from international markets, Reuters reported.
Moderna CEO Stéphane Bancel credited new products and a broader geographic reach in an interview with CNBC ahead of the results.
“The new product and the diversification of geography is what has led to such a strong Q3,” he told CNBC. In a separate interview on CNBC’s “Squawk Box,” he pointed to expansion in Canada, the U.K. and Asia, along with lower costs, as contributors to the quarter’s performance.
