Finance
 Posted by - May 5, 2017

Moody’s Corporation Q1 Profit & Revenue Crush Expectations

Written by StockNews.com

Moody's Corporation (NYSE: MCO) early Friday posted much better than expected first quarter earnings results, helped by a big one-time gain, and said its full-year earnings should come in at the high-end of its prior estimate.

The New York City-based ratings agency reported Q1:

  • earnings per share (EPS) of $1.47, which was $0.23 better than the Wall Street consensus estimate of $1.24. Moody's said its results included a one-time $0.10 per share tax benefit.
  • revenues rose 19.5% from last year to $975.2 million, also easily beating analysts' view for $914.27 million.

    • Looking ahead, MCO said:

  • its full-year EPS results will be in the upper range of its current $5.15 to $5.30 view, excluding a one-time gain. That's in-line with Wall Street expectations of $5.25 per share for the year.

    • …[Raymond McDaniel, President and Chief Executive Officer of Moody's,] commented via press release:

    “Moody's achieved record revenue in the first quarter as Moody's Investors Service benefited from strong issuance, especially in the leveraged markets, and Moody's Analytics continued to exhibit steady growth.”

    MCO currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #5 of 66 stocks in the Financial Services (Enterprise) category.

    Print Friendly, PDF & Email
    No tags for this post.

    Related posts

    • No related posts.

    About Darren Marchal

    Facebook
    Google+
    Linkedin
    Pinterest
    Delicious

    Related Posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *