Moody’s Corporation (NYSE: MCO) today announced results for the second quarter 2013.
SUMMARY OF RESULTS FOR SECOND QUARTER 2013
Moody’s reported revenue of $756.0 million for the three months ended June 30, 2013, up 18% from $640.8 million for the second quarter of 2012. Operating expenses for the second quarter of 2013 totaled $405.2 million, a 12% increase from the prior-year period. Operating income for the quarter was $350.8 million, a 26% increase from $278.5 million for the same period last year. Adjusted operating income, defined as operating income before depreciation and amortization, was $373.9 million, a 24% increase from $300.6 million last year. Diluted earnings per share of $1.00 increased 32% from $0.76 in the second quarter of 2012.
“Moody's results for the second quarter reflected continued strong operating performance across the Company,” said Raymond McDaniel, President and Chief Executive Officer of Moody’s. “We are pleased to announce we have increased our annualized dividend to $1.00 per share. We also now anticipate total 2013 share repurchases of approximately $1 billion. Our EPS guidance range for 2013 remains $3.49 to $3.59.”SECOND QUARTER REVENUE For Moody’s Corporation overall, global revenue of $756.0 million for the second quarter of 2013 was up 18% from the second quarter of 2012. U.S. revenue of $408.4 million and non-U.S. revenue of $347.6 million for the second quarter of 2013 both increased 18% from the second quarter of 2012. Revenue generated outside the U.S. represented 46% of Moody’s total revenue for the quarter, flat compared to the year-ago period. Global revenue for Moody’s Investors Service (“MIS”) for the second quarter of 2013 was $537.3 million, up 22% from the prior-year period. U.S. revenue of $313.2 million for the second quarter of 2013 increased 21% from the second quarter of 2012. Revenue generated outside the U.S. of $224.1 million increased 22% from the year-ago period. The impact of foreign currency translation on MIS revenue was negligible.
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 + 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