CAMBRIDGE, Mass. (AP) _ Moderna Inc. (MRNA) on Thursday reported first-quarter net income of $1.22 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Cambridge, Massachusetts-based company said it had profit of $2.84.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.04 per share.

The biotechnology company posted revenue of $1.94 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $1.97 billion.

Moderna shares have climbed 56% since the beginning of the year. The stock has more than tripled in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRNA at https://www.zacks.com/ap/MRNA

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