Moody’s reported revenue of $433.4 million for the three months ended September 30, 2008, a decrease of 17% from $525.0 million for the same quarter of 2007. Operating income for the quarter was $189.8 million, a 24% decline from $250.5 million for the same period last year. Diluted earnings per share were $0.46 for the third quarter of 2008 and included a benefit of $0.01 related to legacy tax matters and 2007 restructuring adjustments. Excluding the impact of these items, diluted earnings per share declined 12% to $0.45 in 2008 versus $0.51 in 2007.  Not surprisingly structured finance sector still show steep declines.  Analytics are up, but hardly compensating the revenue declines in rating services.  Source: Moody’s Earnings Release

BIIA Newsletter October 2008 Issue