According to the results of the third quarter, the net profit of Moderna covid vaccine producer decreased more than 3 times and amounted to $1,043 billion ($2.53 per share) from $3,333 billion ($7.7 per share) in the same period a year earlier. Moderna stock is also getting cheaper.

The company said revenue in July-September fell to $3,364 billion from $4,969 billion a year earlier — mainly because of lower sales of COVID-19 vaccines.

Experts polled by FactSet averaged the company’s earnings at $3.3 per share on revenue of $3,527 billion.

Moderna plans to ship $18 billion to $19 billion worth of products this year. Analysts were expecting an average of $21.3 billion.

The company spent about $2.9 billion to buy back its stock in January-September, according to the report.

Moderna’s stock price plummeted by more than 10% in premarket trading on Thursday. Since the beginning of the year, the company’s market value has fallen 41.5% (to $60.5 billion), while the Standard & Poor’s 500 stock index has lost just over 21%.

Earlier we reported that equity markets in Europe are trading on a downward trend.