Dow Jones Stock Market Today – Moody’s Beats on Revenue, Misses on Adjusted EPS
By Allison Prang
Moody’s Corp.’s reported lower profit as its expenses climbed by a double-digit percentage for the fourth quarter.
Net income attributable to the ratings company fell 13% to $314 million in the quarter from $359 million. Earnings were $1.66 a share, down from $1.88 a share. Adjusted earnings were $1.91 a share. According to FactSet, analysts were expecting $1.95 a share for adjusted earnings.
Revenue was $1.29 billion, an increase of 4.6% from $1.23 billion a year earlier. Analysts were expecting $1.22 billion.
Total expenses for the quarter, however, rose 16%.
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(END) Dow Jones Newswires
February 12, 2021 07:27 ET (12:27 GMT)
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