Moody’s Reports Increase in 4Q Net Income and Forecasts 2024 Earnings Growth with Stable Markets and Economy

Moody’s Upbeat Outlook: Q4 Net Income Rises and 2024 Earnings Forecasted

Moody’s Corp. has reported a significant increase in fourth-quarter net income and has forecasted further growth in 2024. The company’s bond-rating and financial-research arms are benefiting from a rebound in credit markets and stabilizing economic conditions. In the fourth quarter, Moody’s earnings rose to $340 million, an 18% increase from the previous year, reflecting strong demand for bank-loan ratings.

Moody’s Analytics research unit experienced an 11% increase in revenue to $796 million, while the Moody’s Investors Service credit-ratings unit saw a 19% rise to $684 million, attributed to a rebound in Treasury markets and a brightening economic outlook. However, on an adjusted basis, excluding certain one-off items, Moody’s logged fourth-quarter earnings of $2.19 a share, which fell short of the average analyst estimate of $2.33 a share. Fourth-quarter revenue also surged 15% to $1.48 billion but was slightly below the average analyst target of $1.49 billion.

Looking ahead to 2024, Moody’s estimated earnings in a range between $9.45 a share and $10.20 a share or between $10.25 a share and $11a share on an adjusted basis

Leave a Reply

UK chip designer Arm witnesses nearly a doubling of its shares as AI advances Previous post Rising Stock Market Values for Arm and Nvidia: Driven by the Demand for AI Chips
Remove Artificial Intelligence from my healthcare Next post Beyond Bias: US Government Clarifies AI Cannot be Used as Sole Basis for Claim Denial in Medicare Insurance