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Raymond McDaniel

Third-Quarter Profits Flatline at Moody's

Moody's (NYSE:MCO) weighed in with flat third-quarter earnings on Friday that trailed forecasts as the credit-ratings company suffered from declining structured finance revenue and grappled with "volatile" market conditions.Shares of the parent of Moody's Investors Service slumped almost 4% on the earnings miss. The company said it earned $183.9 million, unchanged from the year before. On a per-share basis,  Moody's earned 83 cents, compared with 81 cents the year before.Excluding one-time items, it earned 75 cents, widely trailing forecasts from analysts for 82 cents.Revenue increased 2.5% to $705.5 million, trailing the Street's view of $705.5 million. U.S. revenue rose 3% to $391 million, while non-U.S. revenue gained 1% to $314.5 million."Moody`s achieved year-on-year revenue, operating income and EPS growth in the third quarter, despite challenging comparisons to the prior year as well as volatile market conditions," Moody's CEO Raymond McDaniel said in a statement.With those conc...

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