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Moody's Corporation Q2 revenue $873.5 million

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Staff writer |
Moody's Corporation
Solid quarter   GAAP EPS of $1.48 increased 48%

Moody's Corporation announced results for the second quarter 2014. Revenue was $873.5 million for the three months ended June 30, 2014, up 16% from $756 million for the second quarter of 2013.

Operating expenses for the second quarter of 2014 totaled $461.8 million, a 14% increase from the prior-year period. Operating income for the quarter was $411.7 million, a 17% increase from $350.8 million for the same period last year.

Adjusted operating income, defined as operating income before depreciation and amortization, was $434 million, a 16% increase from $373.9 million last year.

GAAP EPS of $1.48 increased 48% against the same period last year and included a $103 million non-cash, pre-tax gain, or $0.36 per share, resulting from Moody's acquisition of a controlling interest in ICRA Ltd. Non-GAAP EPS of $1.12, which excludes the ICRA gain, increased 12% from EPS of $1.00 in the second quarter of 2013.

On July 14, 2014, the Board of Directors of Moody's Corporation (NYSE: MCO) declared a regular quarterly dividend of 28 cents per share of MCO Common Stock. The dividend will be payable on September 10, 2014 to stockholders of record at the close of business on August 20, 2014.

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