Moody’s reported revenue of $408.9 million for the three months ended March 31, 2009, a decrease of 5% from $430.7 million for the first quarter of 2008. Operating income for the quarter was $148.9 million, a 25% decline from $199.3 million for the same period last year.
U.S. revenue of $208.9 million for the first quarter of 2009 decreased 10% from the first quarter of 2008, while non-U.S. revenue of $200.0 million increased 1% from the prior-year period. Non-U.S. revenue accounted for 49% of Moody’s total revenue for the quarter, up from 46% in the prior year period.
Global revenue for Moody’s Investors Service (“MIS”) for the first quarter of 2009 was $270.2 million, a decrease of 9% from the prior-year period. Global revenue for Moody’s Analytics for the first quarter of 2009 reached $138.7 million, up 5% from the same quarter of 2008. Subscription revenue of $117.0 million was about flat with the prior-year period, and continued to represent more than 80% of Moody’s Analytics revenue. Software revenue, which includes the effect of the Fermat acquisition in October 2008, grew 69% while revenue in the consulting business grew 17% from the prior-year period. Source: Moody’s Press Release
More information to follow in the May 2009 Newsletter