Moody's Q3 Profit Rises, Top View; Backs 2014 Outlook - Quick Facts

(RTTNews) - Credit ratings agency Moody's Corp. (MCO) reported that third-quarter net income attributable to the company increased to $215.2 million or $1.00 per share from $183.9 million or $0.83 per share in the prior-year quarter.

Excluding items, adjusted net income for the latest quarter was $0.97 per share. On average, eleven analysts polled by Thomson Reuters expected the company to report earnings of $0.90 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 16 percent to $816.1 million from $705.5 million in the prior-year quarter. Ten Wall Street analysts had a consensus revenue estimate of $787.18 million for the quarter.

Looking ahead to fiscal 2014, the company continues to expect adjusted earnings in a range of $3.95 to $4.05 per share, on projected revenue growth in the low-double-digit percent range. Street is currently looking for full-year 2014 earnings of $4.03 per share on annual revenue growth of 10.9 percent to $3.30 billion.