UPDATE: Moody's Posts 66% Rise In Q4 Profit, Issues Upbeat Forecast
Moody's (NYSE: MCO) reported a 66% rise in its fourth-quarter earnings and issued an upbeat forecast for the year.
Moody's quarterly profit surged to $160.1 million, or $0.70 per share, from $96.2 million, or $0.43 per share, in the year–ago period.
Its revenue rose 33% to $754.2 million. However, analysts expected earnings of $0.69 per share on revenue of $683 million.
Moody's Investors Service posted a 42% gain in revenue. Moody's operating margin rose to 34.5% from 30.3%.
It expects full-year earnings of $3.45 to $3.55 per share, versus estimates of $3.18 per share.
Moody's shares gained 0.23% to $47.10 in pre-market trading.
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