NEW YORK - Moody's Corporation (NYSE:MCO) reported a robust second quarter for 2024, surpassing analyst expectations with an earnings per share (EPS) of $3.28, higher than the consensus estimate of $3.03.
The company's revenue also exceeded forecasts, coming in at $1.8 billion, which outpaced the anticipated $1.72 billion.
The financial services firm experienced a strong quarter, with President and CEO Rob Fauber attributing the success to the company's "best-in-class ratings franchise" and double-digit revenue growth. Fauber also highlighted new strategic partnerships aimed at expanding the reach and availability of Moody's data and insights.
Looking ahead, Moody's provided its full-year 2024 guidance, projecting an adjusted diluted EPS range of $11.00 to $11.40, which brackets the analyst consensus of $11.05. The company anticipates an adjusted operating margin between 46% and 47%, and revenue growth in the low teens percentage range.
Fauber added, "We delivered double-digit revenue growth, fueling product development and innovation." This suggests a continued focus on expanding Moody's offerings and maintaining a competitive edge in the market.
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