Moderna ($MRNA@US) reported fourth-quarter results on Thursday that missed earnings expectations due to surplus production capacity and lower demand for COVID vaccines. The drugmaker’s earnings per share were $3.61 versus the $4.68 expected, and revenue was $5.1 billion versus the $5 billion expected. Moderna sold $18.4 billion in vaccines during 2022, a 4 percent increase over the previous year and a net income of $8.4 billion in 2022, a 31 percent decrease over 2021. Moderna has $5 billion in contracts for COVID vaccines in 2023 and expects additional sales, even as demand declines.
