Moderna’s Covid Vaccine Is Driving Growth Again. The Stock Is Down Anyway.

Moderna defied expectations of a Covid-revenue slowdown on Friday as a surge in international vaccine sales underpinned its first-quarter results. Revenue more than tripled in Moderna’s latest quarter to $389 million from $108 million last year, handily beating analysts’ calls for $236.4 million. Moderna logged a $1.34 billion net loss, or $3.40 a share.