Earnings season continues for U.S. companies, with Moderna (NASDAQ: MRNA), Uber (NYSE: UBER), & Yum Brands (NYSE: YUM) reporting earnings.
Moderna more than tripled its COVID-19 vaccine sales YoY, recording $5.9 billion in Q1-2022. The company expects stronger vaccine sales in H2-2022, reaching $21 billion by year’s end. Moderna competitor Pfizer also reported higher revenue driven by vaccine sales.
Uber reported better-than-expected revenue in Q1-2022 but incurred heavy losses on its equity investments. The company’s revenues are back relying on its mobility service after the demand for its delivery service winded down as restaurants opened up. On the other hand, investments in Grab (NASDAQ: GRAB), Aurora (NASDAQ: AUR) & DiDi (NYSE: DIDI) cost Uber $5.9 billion in losses. Uber’s competitor Lyft closed almost 30% down after cutting its earnings forecasts for 2022.
Owner of KFC & Pizza Hut “Yum Brands” slightly missed analyst expectations as China lockdowns affected sales. The company expects its restaurant chains to perform strongly in the U.S. but is not sure how long demand in China will remain affected by lockdowns.