Moody’s Boosts Profit View as Bond Binge Lifts Rating Business
- Investment-grade issuance revenue more than doubled in quarter
- Companies rushing to debt markets ahead of November elections
Moody’s Corp. reported third-quarter earnings of $3.21, surpassing Wall Street expectations of $2.88.
Photographer: Ramin Talaie/Bloomberg
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Moody’s Corp.’s reported third-quarter earnings that beat estimates and raised its annual outlook after a flurry of bond deals boosted its ratings business.
The firm reported third-quarter earnings of $3.21, surpassing Wall Street expectations of $2.88. Adjusted earnings this year will be $11.90 to $12.10 per share, the company said in a filing Tuesday, up from a prior view of $11 to $11.40. A consensus of analyst estimates called for $11.71 per share.