Moody's Q4 profit surges

Last Updated: Sat, Feb 09, 2013 09:10 hrs

New York, Feb 9 (IANS) Global rating agency Moody's has reported that the company's net income jumped 66 percent in the fourth quarter of 2012 and predicted a strong revenue growth in 2013.

In the three months ending Dec 31, Moody's made a net income of $160.1 million, up 66 percent from the previous year, the company said.

Revenue of the fourth quarter was $754.2 million, up 33 percent year on year, the company added.

"Moody's delivered strong financial performance throughout 2012, with double-digit revenue growth in most lines of business," said Raymond McDaniel, president and chief executive officer of Moody's.

Despite the ongoing economic uncertainty, McDaniel anticipated revenue growth across all areas of the business and earnings per share in the range of $3.45 to $3.55 in a generally favourable market conditions in 2013.

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