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Moody's Corporation (MCO) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing shows total revenue of $7,088 million, a 20% increase from $5,916 million in 2023. This growth was driven by increases in both Moody's Analytics (MA) and Moody's Investors Service (MIS) segments.
Moody's Analytics reported external revenue of $3,295 million, up 8% from the previous year, with significant contributions from Decision Solutions, Research and Insights, and Data and Information.
Moody's Investors Service reported external revenue of $3,793 million, a 33% increase from 2023, attributed to growth across all lines of business, including Corporate Finance, Structured Finance, Financial Institutions, and Public, Project and Infrastructure Finance.
Operating expenses rose by 15% to $1,945 million, while selling, general, and administrative expenses increased by 6% to $1,735 million.
Depreciation and amortization expenses were $431 million, reflecting higher amortization of internally developed software.
The company recorded restructuring charges of $59 million and charges related to asset abandonment of $43 million.
Moody's reported an operating income of $2,875 million, a 35% increase from $2,137 million in the previous year.
Net income attributable to Moody's was $2,058 million, up from $1,607 million in 2023, resulting in diluted earnings per share of $11.26.
The company's effective tax rate increased to 23.7% from 16.9% in 2023, primarily due to tax benefits recognized in the prior year.
Moody's ended the year with cash and cash equivalents of $2,408 million, compared to $2,130 million at the end of 2023.
The filing also outlines Moody's strategic initiatives, including investments in technology and data analytics to support growth and efficiency.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Moody's Corporation annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.