Moody’s reported revenue of $816.1 million for the three months ended September 30, 2014, up 16% from $705.5 million for the third quarter of 2013. Operating expenses for the third quarter of 2014 totaled $466.4 million, a 13% increase from the prior-year period. Operating income for the quarter was $349.7 million, a 20% increase from $291.5 million for the same period last year. Adjusted operating income, defined as operating income before depreciation and amortization, was $372.9 million, an 18% increase from $314.9 million last year. GAAP EPS of $1.00 increased 20% against the same period last year. Non-GAAP EPS of $0.97, which excludes a $0.03 benefit from the resolution of a legacy tax matter, increased 17% from the third quarter of 2013.
“Moody’s achieved strong financial results in the third quarter, with record revenue growth in Moody’s Analytics, and double-digit revenue growth in nearly every line of business in both Moody’s Investors Service and Moody’s Analytics,” said Raymond McDaniel, President and Chief Executive Officer of Moody’s. “Based on our strong year-to-date performance, we are reaffirming our EPS guidance in the range of $3.95 to $4.05.”
Source: Moody’s Corporation Earnings Report – to read full segment report log on