Moody's Profit, Sales Rise Above Expectations

Moody's Corp. reported on Friday a fourth-quarter profit of $236.3 million, or $1.12 a share, up from $206.7 million, or 94 cents a share, in the year-earlier period, and above the FactSet consensus of 95 cents a share. Revenue rose 13% to $877.5 million, as corporate finance revenue increased 8.5% to $263.3 million, exceeding analyst forecasts of $849 million and $257.1 million, respectively. The credit rating firm said unfavorable currency movements reduced revenue by 3%. For 2015, the Moody's expects earnings per share of $4.55 to $4.65, compared with analyst projections of $4.56. The stock, which was still inactive in premarket trade, has lost 5.8% over the past three months, while the S&P 500 has gained 1.5%.