Moody's raised its earnings outlook after reporting a jump in profit and revenue for the third quarter amid a rise in transactional revenue.
The credit-ratings and research company said Tuesday it saw a profit $534 million, or $2.93 a share, compared with $389 million, or $2.11 a share, in the year-ago period.
Adjusted EPS came in at $3.21, above analyst views of $2.87, taken from FactSet.
Revenue came in at $1.81 billion, compared with $1.47 billion. Analysts were expecting $1.71 billion, according to a FactSet consensus.
The company said transactional revenue grew 70%, reflecting heightened activity from infrequent issuers across all lines of business.
Moody's Investors Service revenue rose 41% to $1.0 billion, while the Analytics division was up 7% at $831 million.
Looking forward, the company raised adjusted EPS guidance for 2024 to between $11.90 and $12.10, from its previous range of $11.00 to $11.40.
