News Column

Moody's 2Q profit climbs 42 percent

July 25, 2014



NEW YORK (AP) Moody's Corp. (MCO) on Friday reported net income that increased by 42 percent in its second quarter, and topped analysts' expectations.

The New York-based company said profit rose to $319.2 million, or $1.48 per share, from $225.5 million, or $1 per share, in the same quarter a year earlier.

Earnings, adjusted for non-recurring gains, came to $1.12 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for a profit of 99 cents.

The credit ratings agency said revenue climbed 16 percent to $873.5 million from $756 million in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $805.1 million, according to Zacks.

Moody's shares have increased $14.01, or 15 percent, to $92.48 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.6 percent.


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Source: Associated Press


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