Moody's Q2 Profit Declines, But Tops View; Backs 2015 Outlook - Quick Facts

(RTTNews) - Credit ratings agency Moody's Corp. (MCO) reported that second-quarter net income attributable to the company decreased to $261.7 million or $1.28 per share from $319.2 million or $1.48 per share in the prior-year quarter, which included $0.36 per share of gain resulting from Moody's acquisition of a controlling interest in ICRA Ltd. in the second-quarter of 2014.

On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $1.22 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 5 percent to $918.1 million from $873.5 million in the prior-year quarter. Eight Wall Street analysts had a consensus revenue estimate of $897.43 million for the quarter. Revenue grew 10 percent on a constant currency basis.

Looking ahead to fiscal 2014, the company continues to expect earnings in a range of $4.55 to $4.65, on projected revenue growth in the mid-single-digit percent range. Street is currently looking for full-year 2015 earnings of $4.61 per share on annual revenue growth of 6.10 percent to $3.54 billion.