logo
Plus   Neg
Share
Email

Moody's Affirms 2018 Outlook; Q1 Results Top View - Quick Facts

Moody's Corp. (MCO) on Friday affirmed its earnings guidance for the full-year 2018 in the range of $7.20 to $7.40 per share and adjusted earnings in the range of $7.65 to $7.85 per share.

Revenues for fiscal 2018 are also still expected to increase in the low-double-digit percent range, with corporate finance revenue to increase in the mid-single-digit percent range and structured finance revenue to increase in the high-single-digit percent range.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.73 per share on revenue growth of 11.8 percent to $4.70 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company reported net income of $372.9 million or $1.92 per share, up from $345.6 million or $1.78 per share in the prior-year quarter.

Adjusted net income for the quarter was $393.3 million or $2.02 per share, compared to $292.1 million or $1.50 per share in the year-ago quarter.

Revenue for the quarter grew 16 percent to $1.13 billion from $975.2 million in the same quarter last year, including eight percentage points attributable to Bureau van Dijk. Foreign currency translation favorably impacted Moody's revenue by 4 percent. U.S. revenue was up 3 percent to $597.7 million, and non-U.S. revenue was up 33 percent to $529.0 million from last year.

Analysts expected quarterly earnings of $1.80 per share on revenues of $1.10 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Workers at Volkswagen AG's only factory in the U.S. have voted against forming a factory-wide union, dealing yet another blow to efforts by the United Auto Workers union to organize plants owned by foreign automakers. According to preliminary results announced on Friday, 833 workers at Volkswagen's plant in Chattanooga, Tennessee, reportedly voted against union representation. International Business Machines Corp. and Cúram Software, acquired by the tech giant in 2011, have agreed to pay $14.8 million to settle alleged violations of the False Claims Act, the Justice Department said in a statement. According to the DOJ, IBM and Cúram allegedly made material misrepresentations to the State of Maryland during a contract award process in 2011 and 2012. Lyrics website Genius Media Group Inc. has accused Google of copying some song lyrics directly from its website without permission, for the tech giant's search results. Genius told the Wall Street Journal that it is seeing falling traffic for the past several years as Google has been publishing lyrics in search pages on its own platform, with some of them lifted directly from the Genius website.
Follow RTT