In the fourth quarter, Moody’s Corp. experienced a significant increase in net income and forecasted further growth for 2024. The recovery in credit markets and stabilizing economic conditions are benefiting the company’s bond rating and financial research divisions.

Moody’s reported earnings of $340 million in the fourth quarter, a 15% increase from the previous year. Despite this, earnings per share were slightly below analyst estimates at $2.19 per share, compared to an average estimate of $2.33 per share. However, revenue rose to $1.48 billion, a 15% increase from the previous year, though it was slightly below analysts’ average target of $1.49 billion.

The research unit Moody’s Analytics posted an impressive 11% increase in revenue to $796 million, while the credit ratings unit Moody’s Investors Service experienced a 19% rise to $684 million due to recoveries in Treasury markets and improved economic outlook. Additionally, Moody’s stated that demand for bank credit ratings is currently at its highest since the beginning of 2022.

In terms of financial projections for 2024, Moody’s anticipates earnings ranging between $9.45 per share and $10.20 per share or between $10.25 per share and $11 per share on an adjusted basis

By Editor

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