Pfizer And Moderna Report Stunning Profits From COVID-19 Vaccine Sales

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Pfizer and Moderna, the manufacturers of the two most popular COVID-19 vaccines in the United States, both reported massive quarterly profits this week driven by the coronavirus pandemic.

Moderna tripled its net-income in the first quarter of 2022 compared to Q1 2021, pocketing nearly $6 billion from COVID-19 vaccine sales, the company reported Wednesday. Pfizer’s profit surged 61% to nearly $8 billion in the first quarter, it announced Tuesday.

There are only three COVID-19 vaccines authorized for use in the United States. 217 million doses of Moderna’s shot and 341 million doses of Pfizer’s have been administered in the United States since the shots were approved nearly a year and a half ago, according to the Centers for Disease Control and Prevention (CDC). The third available shot, from Johnson & Johnson, has been administered just 18.7 million times.

Moderna soared well beyond Wall Street expectations for the quarter, reporting a profit of $8.58 per share compared to analyst predictions of $5.18 per share, according to the Associated Press. Pfizer also exceeded expectations, with earnings of $1.62 per share compared to predictions of $1.49 per share.

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