Moody's 4Q Earnings Fall as Credit-Market Activity Slows
January 31 2023 - 08:00AM
Dow Jones News
By Rob Curran
Moody's Corp. posted a decline in fourth-quarter earnings and
revenue as bond issuance was stymied by economic uncertainty and
market fluctuations.
The New York credit-ratings and research firm said
fourth-quarter earnings fell to $246 million, or $1.34 a share,
from $427 million, or $2.28 a share, a year earlier. Excluding
certain items, adjusted earnings were $1.60 a share.
Fourth-quarter revenue slipped 16% to $1.29 billion, as
credit-ratings revenue was weighed down by a collapse in activity
in the high-risk junk-bond and leveraged-loan markets. Revenue at
the Moody's Analytics research unit rose 7% to $714 million.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
January 31, 2023 07:45 ET (12:45 GMT)
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