Moderna Returns to Profit as Q3 Revenue Jumps 29% and Guidance Is Raised

Direct answer

Moderna made a profit again in the third quarter of 2026. Revenue rose 29% to $1.3 billion, beating what analysts expected, and the company raised its growth forecast for the full year.

What happened

Reuters reported the results on November 6, 2026, before the US market opened. Revenue was $1.313 billion in the third quarter, up 29% from a year earlier and well above the average analyst estimate of about $885 million. Net income was $162 million, compared with a net loss of about $200 million in the same quarter last year. Diluted earnings were $0.38 per share, compared with a loss of $0.51 a year earlier and an expected loss of $1.25 per share.

Strong sales of the COVID-19 vaccine outside the United States drove the beat, along with payments from partnerships. Revenue in the United States was $780 million, and international revenue was $533 million. Research and development spending fell about 27% to $583 million.

Moderna raised its full-year revenue growth outlook to 15% to 25%, up from growth of up to 10% before. It also cut expected research spending to about $2.7 billion and raised its year-end cash guidance to between $8.1 billion and $8.3 billion.

Moderna shares rose in premarket trading on Friday after falling about 7% the day before, when the wider US market sold off sharply.

The company also reported positive Phase 3 results for its personalized melanoma vaccine with Merck, which cut the risk of the cancer coming back or death by 42%. Its experimental norovirus vaccine did not meet its early success target.

Why it matters for beginners

Earnings reports compare what a company actually earned with what analysts expected. A big beat can lift a share price, and a miss can send it down, often on the same day.

Guidance matters as much as the past quarter. When a company raises its forecast, it is telling investors it expects the better trend to continue.

One strong quarter does not make a company a safe investment. Moderna is a single biotech stock, and its sales still depend heavily on COVID-19 vaccine demand, which can rise or fall quickly. That is why beginners often spread risk instead of betting on one stock.

What to watch next

Whether COVID-19 vaccine demand outside the United States stays strong in the fourth quarter. Progress on the melanoma vaccine with Merck and the next steps for the norovirus vaccine. Moderna’s full-year results early next year, and whether the raised growth forecast holds. The wider market mood, after US stocks had their worst day since April 2025 on Thursday.

FAQ

What does Moderna do?

Moderna is a US biotech company best known for its COVID-19 vaccine. It is also developing vaccines and treatments for flu, cancer and other diseases.

Why did Moderna return to profit?

Revenue jumped 29% on strong international COVID-19 vaccine sales and partnership payments, while research spending fell.

What is guidance?

Guidance is a company’s own forecast for future sales or profit. Investors watch it closely because it shows how confident management feels.

Did Moderna shares rise after the results?

Yes, the shares rose in premarket trading on Friday, November 6, after falling about 7% the previous day.

Sources

Reuters, Moderna lifts annual revenue forecast on strong COVID vaccine demand overseas, November 6, 2026: https://985theriver.com/2026/11/06/moderna-lifts-annual-revenue-forecast-on-strong-covid-vaccine-demand-overseas/

Seeking Alpha, Moderna rises as overseas COVID vaccine sales drive Q3 beat, guidance hike, November 6, 2026: https://www.tradingview.com/news/seekingalpha:4c04bc0d1094b:0-moderna-rises-as-overseas-covid-vaccine-sales-drive-q3-beat-guidance-hike/

This article is for general information and education only. It is not legal or financial advice.