Moderna posts surprise quarterly profit despite waning demand for Covid vaccines

[ad_1] Moderna’s sign is seen outside of their headquarters in Cambridge, MA on March 11, 2021. Boston Globe | Getty Images Moderna on Thursday blew past estimates for first-quarter earnings and revenue, posting a surprise quarterly profit, despite lower demand for Covid vaccines, its only marketable product. The biotech company generated first-quarter sales of $1.9…

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Pfizer earnings and revenue top expectations despite Covid vaccine sales decline

[ad_1] Pfizer on Tuesday reported first-quarter revenue and adjusted earnings that topped Wall Street’s expectations, despite a decline in sales driven by the lower demand for the company’s Covid vaccine. The pharmaceutical giant’s stock edged higher in premarket trading Tuesday. Shares are down more than 23% for the year through Monday’s close, putting the company’s…

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Abbott Labs shares pop as revenue, earnings defy steep drop in Covid test sales

[ad_1] The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022. Jeff Kowalsky | AFP | Getty Images Shares of Abbott Laboratories popped Wednesday after the company’s earnings and revenue topped Wall Street’s expectations, defying a dramatic slowdown in sales of its Covid-19 tests.  The medical-products company posted adjusted earnings per share of $1.03….

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