Moderna Beats Q3 Estimates and Raises 2026 Outlook

Moderna reported third-quarter revenue of $1.31 billion and earnings per share of 38 cents, significantly beating Wall Street expectations of $885.1 million in revenue and a projected loss of $1.25 per share. The results were driven by cost-reduction efforts and strong international sales of its Covid vaccines.

Following these results, the company raised its 2026 revenue growth outlook to between 15% and 25%, an increase from its previous 10% guidance. CEO Stéphane Bancel attributed the performance to geographic expansion in Asia, Canada, and the United Kingdom, alongside the deployment of a next-generation mRNA Covid vaccine approved in May 2025. The company also announced the upcoming limited launch of a stand-alone flu shot approved in August.

Shares rose approximately 3% in premarket trading, recovering from recent volatility caused by a social media leak of cancer vaccine trial data. Moderna continues to partner with Merck Group on the development of an experimental personalized cancer vaccine.