Moderna posted a surprising third-quarter profit, driven by cost-cutting and higher-than-expected Covid vaccine sales. Moderna’s earnings per share and revenue surpassed Wall Street expectations, with earnings reaching a surprising profit and revenue exceeding projected figures. Moderna’s new RSV vaccine added $10 million in U.S. sales. The company reiterated its 2024 outlook. Moderna plans further expense reductions, targeting $1 billion in savings by 2027. Shares remain down nearly 50% for the year.
