Novavax Inc. has recently reported a decrease in losses for the first quarter, beating street estimates. The company's net loss stood at $147.550 million, or $1.05 per share, a significant improvement from last year's first quarter which recorded losses of $293.905 million, or $3.41 per share.
Analysts had expected the company's losses to average at $1.06 per share, according to data compiled by Thomson Reuters. It's important to note that such estimates generally do not include special items.
The company also enjoyed a 15.9% rise in their revenue for the quarter, bringing in $93.855 million, up from the $80.951 million reported in the same period last year.
Here's a simple breakdown of Novavax Inc's earnings (on a GAAP basis):
- Earnings for Q1: -$147.550 million vs. -$293.905 million last year.
- Earnings Per Share for Q1: -$1.05 vs. -$3.41 last year.
- Revenue for Q1: $93.855 million vs. $80.951 million last year.
