RTTNews | Oct 28, 2021 08:49AM EDT

08:48 Thursday, October 28, 2021 (RTTNews.com) - While reporting financial results for the third quarter on Thursday, Moody's Corp. (MCO) raised its earnings, adjusted earnings and revenue growth guidance for the full-year 2021.

For fiscal 2021, the company now expects earnings in a range of $11.65 to $11.85 per share and adjusted earnings in the range of $12.15 to $12.35 per share on projected revenue growth in the low-teens percent range.

Previously, the company projected earnings in a range of $10.90 to $11.20 per share and adjusted earnings in the range of $11.55 to $11.85 per share on projected revenue growth in the low-double-digit percent range.

On average, 17 analysts polled by Thomson Reuters expect earnings of $11.95 per share on revenue growth of 12.5 percent to $6.04 billion for the year. Analysts' estimates typically exclude special items.

On Tuesday, the Board of Directors also declared a regular quarterly dividend of $0.62 per share of MCO Common Stock, payable on December 14, 2021 to stockholders of record at the close of business on November 23, 2021.

For the third quarter, net income increased to $474 million or $2.53 per share from $467 million or $2.47 per share in the year-ago quarter. Excluding items, adjusted net income was $2.69 per share. Revenues for the quarter grew 13 percent to $1.53 billion from $1.36 billion in the same quarter last year.

The Street was looking for earnings of $2.54 per share on revenue of $1.45 billion for the quarter.

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