logo-loader
viewMoody's Corporation

Moody’s ups full year revenue, earnings guidance on better than expected bond issuances

business_news_350_4d25cfd9eecf3.jpg

Moody’s (NYSE:MCO) increased its guidance for its full year 2010 revenue and earnings per share, thanks to better than anticipated revenues for its ratings services for bond issuances and a lower than expected tax rate.


Full year and fourth quarter results from the New York headquartered group are due to be released before the start of trading on February 3rd, 2010.  


Previous guidance for the full was for “high-single to low-double-digit” percent growth for revenues and earnings per share of $1.90 to $1.96.  The company has now increased the full year revenue growth guidance to approximately 13% and upped the diluted earnings per share range to $2.08 to $2.14.


Full-year 2010 operating margin is expected to remain in the high-thirties percent range.


“The updated guidance is driven by a higher revenue forecast associated with robust fourth quarter bond market issuance benefiting Moody's Investors Service, and accelerated completion of software projects for customers of Moody's Analytics,” Moody’s explained.


“Updated guidance also reflects an estimated full-year 2010 effective tax rate of approximately 30% to 31%, which is below the previous projection of 33% to 34%, primarily due to utilization of foreign tax credits and lower foreign and state taxes.”

Quick facts: Moody's Corporation

Price: 220.19 USD

NYSE:MCO
Market: NYSE
Market Cap: $41.22 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: CytoDyn's therapy used to treat New York coronavirus...

CytoDyn Inc (OTCMKTS:CYDY) CEO Nader Pourhassan tells Proactive the biotech shared positive test results today from seven coronavirus (COVID-19) patients who were treated with the company’s drug leronlimab at a leading medical center in the New York City area. Pourhassan, together diagnostics...

2 days, 14 hours ago

2 min read