Moody's Posts 54% Fall in Net Amid Weakness in Credit Markets |
| Wall Street Journal - Feb 7, 2008 |
Moody's Corp. posted a 54% drop in fourth-quarter net income on a year-earlier gain, amid declining revenue as the credit ratings and research agency suffered from continued weakness in the global credit markets.
The parent of Moody's Investors Service reported net income of $127.3 million, or 49 cents a share, down from $278.6 million, or 97 cents a share, a year earlier. The latest results include a restructuring charge of 11 cents per share, while the prior year had a 33-cent property-sale gain.
Revenue fell 14% to $504.9 million.
The mean estimates of analysts polled by Thomson Financial were for earnings of 47 cents a share on $482 million in revenue.
Read Full Article from Wall Street Journal
- Posted: 2008-02-07 09:35:31
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