NEW YORK, Feb. 8 (Xinhua) -- Global rating agency Moody's on Friday reported that the company's net income jumped 66 percent in the fourth quarter of 2012 and predicted a strong revenue growth in 2013.
In the three months ending December 31, Moody's made a net income of 160.1 million dollars, up 66 percent from the previous year, and its earnings per diluted share increased 63 percent to 70 cents a share from 43 cents in the fourth quarter of 2011, the company said.
Revenue of the fourth quarter was 754.2 million dollars, up 33 percent year on year, the company added.
"Moody's delivered strong financial performance throughout 2012, with double-digit revenue growth in most lines of business,"said Raymond McDaniel, president and chief executive officer of Moody's.
Despite the ongoing economic uncertainty, McDaniel anticipated revenue growth across all areas of the business and earnings per share in the range of 3.45 dollars to 3.55 dollars in a generally favorable market conditions in 2013.
For the whole year, Moody's net income jumped 21 percent to 690. 0 million dollars on revenue of 2.73 billion dollars.
However, the company did not mention in the earnings report that it is now embroiled in several major legal probes on alleged inflated credit ratings during the global financial crisis.
Moody's rival company Standard & Poor's faced a civil lawsuit filed by the Justice Department earlier this week on allegations that the S&P's misled investors by giving inflated ratings to mortgage bond and collateralized debt obligations to seek gains during the financial crisis.
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