Moody's Q2 Profit, Revenue Jump Above Street View, Ups Full-year Earnings Guidance

(RTTNews) - Moody's Corporation (MCO) Tuesday reported a profit of $377 million or $2.05 per share for the second quarter, higher than $327 million or $1.77 per share in the same quarter a year ago, driven by strong demand for mission-critical data, analytics and software solutions.

Excluding one-time items, earnings were $423 million or $2.30 per share, that beat the average estimate of 18 analysts polled by Thomson-Reuters of $2.24 per share. Analysts' estimates typically exclude special items.

Quarterly revenue increased to $1.494 billion from $1.381 billion last year. The consensus estimate was for $1.45 billion.

Looking forward, the company has raised its full-year outlook. Moody's now expects full-year adjusted EPS to be in the range of $9.75 - $10.25, up from $9.50 - $10.00 provided earlier.

The company now sees revenue to increase in the high-single-digit percent range for the full year, compared with the prior outlook of mid-to-high-single-digit percent range growth.

Analysts expect the company to report earnings of $9.94 per share on revenue growth of 7.7% for the year.