Moody’s Corporation (NYSE:MCO) shares climbed on Wednesday after the ratings and analytics firm delivered a strong quarter, driven by broad-based momentum across its business lines.
Investors also focused on management’s upbeat outlook, as demand for decision-support tools and credit-market services held firm.
• Moodys stock is showing upward movement. Why are MCO shares climbing?
Quarterly Metrics
The company reported first-quarter adjusted earnings per share of $4.33, beating the analyst consensus estimate of $4.22.
Quarterly sales of $2.079 billion (up 8% from the prior-year period) outpaced the Street view of $2.082 billion.
Moody’s Analytics revenue rose 8%, led by 7% growth in Decision Solutions, 8% in Research & Insights, and 10% in Data and Information.
Moody’s Investors Service revenue climbed 8%, delivering its strongest quarter on record.
Quarterly operating income increased to $922 million, compared with $846 million a year ago.
Operating margin improved to about 44.3% …