Why Moderna (MRNA) Shares Are Diving Today - Moderna (NASDAQ:MRNA)

Moderna Inc MRNA reports a Q3 EPS of $2.53, compared to the $7.70 posted a year ago, missing the consensus of $3.29.
Revenue was $3.36 billion compared to $4.96 million a year ago, missing the consensus of $3.53 billion, mainly due to a decline in COVID-19 vaccine sales.
Product sales were $3.1 billion, a decrease of 35% Y/Y, primarily driven by lower sales volume due to the timing of market authorizations for COVID-19 bivalent boosters and the related manufacturing ramp-up.
Operating income reached $1.17 billion, down from $3.56 billion a year ago.
Related: Vaccine Makers Mull Price Increase For COVID-19 Boosters Amid Falling Demand.
Outlook: Moderna expects revenue from Advanced Purchase Agreements in 2022 of $18-19 billion, reflecting deferrals of $2-$3 billion to 2023, compared to approximately $21 billion expected earlier.
Confirmed APAs, as well as previously deferred product sales, currently represent $4.5-$5.5 billion in anticipated product sales in 2023.
Price Action: MRNA shares are down 11.90% at $131 during the premarket session on the last check Thursday.

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Moderna Shares Deep Dive After Lower COVID-19 Vaccine Sales Weigh On Q3 Sales, Profits