Published on 1 Mar 2023 on Zacks via Yahoo Finance
Novavax (NVAX) Q4 Earnings & Revenues Miss Estimates, Stock Down
Novavax, Inc. NVAX incurred a loss of $2.28 per share for fourth-quarter 2022, which was significantly wider than the Zacks Consensus Estimate of a loss of 92 cents as well as our estimate of $1.80. In the year-ago quarter, NVAX posted a loss of $11.18 per share.
Revenues for the quarter were $357 million, up 61% year over year. However, revenues also missed the Zacks Consensus Estimate of $378 million as well as our estimate of $364.5 million.
Shares of Novavax lost 26.13% in the after-market hours on Tuesday, following the dismal earnings results. The stock of the company has plunged 89.3% this year compared with the industry’s 11.4% decline.