Moody’s Corporation, General Electric Company Q2 2017 Earnings

The General Electric Q2 2017 earnings and Moody’s Q2 2017 earnings reports were released before opening bell this morning. GE posted adjusted earnings of 28 cents per share on $29.56 billion in revenue, compared to the consensus estimates of 25 cent per share on $29.14 billion in revenue. In last year’s second quarter. The company reported 30 cents per share in earnings on $33.49 billion in revenue.

Moody’s reported adjusted earnings of $1.51 per share on $1 billion in revenue, compared to the consensus estimates of $1.34 per share and $959.2 million in revenue. In last year’s second quarter, the firm reported $928.9 million in revenue and $1.30 per share in earnings.

General Electric Q2 2017 earnings

General Electric Q2 2017 earnings amounted to 13 cents per share on a net basis, marking a 57% year over year decline. Earnings from continuing operations amounted to 15 cents per share, a 58% decline from last year’s second-quarter result. Industrial segment organic revenues grew 2% year over year as orders increased 6%. The industrial margin was 8.5%, a decline of 760 basis points from last year.

GE management expects its cash flow to keep improving throughout the year. They have cut $670 million from their industrial structural costs this year so far, and they’re on track to meet or surpass their target of $1 billion in cost reductions for this year.

After the General Electric Q2 2017 earnings report, the company’s stock ticked lower in premarket trades, falling by as much as 0.9% to $26.45.

Moody’s Q2 2017 earnings

Moody’s Q2 2017 earnings amounted to $1.61 per share on a GAAP basis, compared to $1.30 per share in the year-ago quarter. Moody’s Investors Service revenue grew 10% year over year to $686.7 million, while Moody’s Analytics revenue increased 3.5% to $313.8 million.

Moody’s management also raised their guidance for the full year due to the strong second-quarter results. They now expect full-year GAAP earnings of $5.69 to $5.84 per share and full-year adjusted earnings of $5.35 to $5.50 per share. The firm expects Moody’s Investors Service revenue to increase in the high-single-digit percentages and Moody’s Analytics revenue to rise in the high-single-digit percentages.

Following the release of the Moody’s Q2 2017 earnings, the firm’s stock jumped by as much as 2.32% to $130.12 in premarket trades.