Summary by Moomoo AI
Moody's Corporation reported stellar Q3 2024 results, with revenue surging 23% to $1.81 billion. MIS revenue jumped 41% to $982 million, driven by a 70% increase in transaction revenue. MA revenue grew 7% to $831 million, with recurring revenue up 9%.Adjusted operating income rose 32% to $867 million, with adjusted operating margin expanding 320 basis points to 47.8%. Adjusted diluted EPS increased 32% to $3.21. The company generated strong free cash flow of $1.92 billion for the first nine months.Citing robust performance, Moody's raised its full-year 2024 outlook. It now expects revenue growth in the high-teens percent range, up from low-teens previously. Adjusted diluted EPS guidance was raised to $11.90-$12.10 from $11.00-$11.40. The company also increased its operating cash flow forecast to approximately $2.7 billion.
