Following impressive growth during the past four quarters Moody’s revenue engine stalled. Global revenues for Moody’s Investor Service declined by 2%. Global revenues for Moody’s Analytics was up by 16%. Moody’s reported revenue of $531.3 million for the three months ended September 30, 2011, an increase of 4% from $513.3 million for the third quarter of 2010. Operating income for the quarter was $196.1 million, a 4% increase from $188.9 million for the same period last year.
“Despite difficult debt issuance conditions, Moody’s achieved year-on-year revenue and operating income growth in the third quarter of 2011, with strong performance by Moody’s Analytics offsetting a modest revenue decline at Moody’s Investors Service,” said Raymond McDaniel, Chairman and Chief Executive Officer of Moody’s. “Though volatile market conditions in the U.S. and Europe may continue, we are reaffirming our 2011 EPS guidance of $2.38 to $2.48 and we expect to be at the upper end of the range.”
Source: Moody’s Press Release
