Moody's Q2 Profit Grows; Confirms FY Targets - Quick Facts

(RTTNews) - Credit ratings agency Moody's Corp. (MCO) said its second-quarter net income attributable to the company rose to $225.5 million, or $1.00 a share, from $172.5 million, or $0.76 a share, in the 2012 second quarter. Also, the firm reported $756.0 million in revenue for the period, up 18% from $640.8 million a year ago.

On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.91, on $722.25 million in revenue for the quarter. Analysts' estimates typically exclude one-time items.

Moody's said its full-year 2013 non-GAAP earnings per share guidance range, excluding the impact of the litigation settlement charge, remains $3.49 - $3.59. Overall, the company still sees annual revenue to grow in the high-single-digit percent range. Seven analysts project earnings of $3.57 per share, and revenue of $2.95 billion.

In addition, the company has raised its annualized dividend to $1.00 per share, a 25% increase from the prior $0.80. Full-year 2013 total share repurchases are now anticipated to reach about $1 billion.