Moody’s earnings for the fourth quarter of 2018 have MCO stock up despite reporting a miss on Friday.
Moody’s (NYSE:MCO) reported earnings per share of $1.63 for the fourth quarter of the year. This is up from its earnings per share of $1.51 reported during the same time last year. However, it fails to reach Wall Street’s earnings per share estimate of $1.67 for the quarter, but that wasn’t able to keep MCO stock down today.
The Moody’s earnings report for the fourth quarter of 2018 also includes net income of $252.70 million. This is an increase over the company’s revenue of $28.50 million reported in the fourth quarter of 2017.
Operating income in the Moody’s earnings report for the fourth quarter of the year was $376.60 million. The financial services company reported operating income of $465.50 million in the same period of the year prior.
Moody’s earnings for the fourth quarter of 2019 also has revenue coming in at $1.06 billion. This is down from the company’s revenue of $1.17 billion in the fourth quarter of the previous year. It was also below analysts’ revenue estimate of $1.12 billion for the period, but MCO stock is still up today.
All of this is bad news for Moody’s, so why is MCO stock up on Friday? This likely has to do with a dividend increase. The company is increasing its quarterly dividend by 14% to 50 cents per share. This dividend will be payable March 18, 2019 to shareholders on record Feb. 25, 2019.
MCO stock was up 4% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.