Moody’s Corporation (NYSE: MCO) today announced results for the second quarter 2012.
SUMMARY OF RESULTS FOR SECOND QUARTER 2012
Moody’s reported revenue of $640.8 million for the three months ended June 30, 2012, up 6% from $605.2 million for the second quarter of 2011. Expenses for the second quarter of 2012 totaled $362.3 million, 8% higher than in the prior-year period. Operating income for the quarter was $278.5 million, a 3% increase from $270.1 million for the same period last year. Diluted earnings per share of $0.76 for the second quarter of 2012 decreased $0.06 from the prior-year period, which had included a $0.06 favorable tax impact related to a foreign tax ruling and a $0.03 legacy tax benefit.
"Moody’s revenue results for the second quarter reflected solid year-on-year growth in public finance and structured finance at Moody’s Investors Service as well as continued strong results from Moody’s Analytics," said Raymond McDaniel, President and Chief Executive Officer of Moody’s. “Though market conditions remain volatile, we are reaffirming our 2012 EPS guidance range of $2.62 to $2.72 and still expect to be toward the upper end of the range.”SECOND QUARTER REVENUE For Moody’s Corporation overall, global revenue of $640.8 million for the second quarter of 2012 was up 6% from the second quarter of 2011. U.S. revenue of $343.8 million for the second quarter of 2012 increased 9% from the second quarter of 2011, while revenue generated outside the U.S. of $297.0 million increased 2% from the prior-year period. Global revenue for Moody’s Investors Service (MIS) for the second quarter of 2012 was $441.2 million, about flat to the prior-year period. U.S. revenue of $258.0 million for the second quarter of 2012 increased 5% from the second quarter of 2011. Outside the U.S., revenue of $183.2 million decreased 5% from the year-ago period. Foreign currency translation unfavorably impacted MIS revenue by 3 percent.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV