Wed, Jul 24, 8:29 PM (45 days ago)
Moody’s Corporation's Q2 2024 financial report indicates strong performance with a 22% increase in total revenue to $1.817 billion, driven by growth in both Moody's Analytics (MA) and Moody's Investors Service (MIS). MA revenue rose 7% to $802 million due to sustained demand for insurance, KYC solutions, and SaaS-based banking offerings. MIS revenue surged 36% to $1.015 billion, reflecting increased issuance across all lines of business amid tightening credit spreads and market volatility anticipation. Operating expenses grew 9%, primarily due to higher salaries, benefits, and incentive compensation. Despite this, operating income jumped 41% to $775 million, with an operating margin of 42.7%, up 590 basis points. Adjusted diluted EPS increased 43% to $3.28. The company maintained strong cash flow, with $1.461 billion provided by operating activities and $2.635 billion in cash and equivalents. Future uncertainties include market volatility, regulatory changes, and geopolitical risks.