Moody's Corporation Reports Results for Third Quarter 2008

NEW YORK, Oct 29, 2008 (BUSINESS WIRE) -- Moody's Corporation (MCO:MCONews, chart, profile, moreLast: Delayed quote dataAdd to portfolioAnalyst Create alertInsiderDiscussFinancials Sponsored by:, , ) today announced results for the third quarter 2008. Summary of Results for Third Quarter 2008 Moody's reported revenue of $433.4 million for the three months ended September 30, 2008, a decrease of 17% from $525.0 million for the same quarter of 2007. Operating income for the quarter was $189.8 million, a 24% decline from $250.

5 million for the same period last year. Diluted earnings per share were $0.46 for the third quarter of 2008 and included a benefit of $0.01 related to legacy tax matters and 2007 restructuring adjustments. Excluding the impact of these items, diluted earnings per share declined 12% to $0.45 in 2008 versus $0.51 in 2007. Raymond McDaniel, Chairman and Chief Executive Officer of Moody's, said, "Moody's results in the third quart...
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