Moody's Q3 earnings per share grew 15 percentStaff Writer | October 21, 2016
Moody's Corp. reported that its third-quarter attributable net income increased to $255.3 million from $231.6 million a year ago. Earnings per share grew 15 percent to $1.31 from $1.14 last year.
Agency Revenues grew 10 percent to $917.1 million
Third-quarter revenues grew 10 percent to $917.1 million from $834.9 million last year, driven by Moody's Investors Service, as well as solid growth from Moody's Analytics. Foreign currency translation unfavorably impacted Moody's revenue by 1%. Analysts were looking for sales of $895.14 million.
U.S. revenue was $545.7 million, up 13%, and non-US revenue was $371.4 million, up 5%. Revenue generated outside the US constituted 40% of total revenue, down from 42% in the prior-year period.
Looking ahead, for fiscal 2016, the company now expects reported earnings per share of $4.76 to $4.86, and adjusted earnings per share of $4.62 to $4.72.
The company previously expected reported earnings per share of $4.70 to $4.80, and adjusted earnings per share of $4.55 to $4.65.
Moody's full year 2016 revenue is still expected to increase in the low-single-digit percent range. ■