MCO · Q2 2026

Archived report (Q2 2026). Latest deep dive →

US GAAP, Q2 2026 · released Jul 30

The quarter in brief

A strong quarter with 15% revenue growth led by a 25% surge in MIS ratings revenue (record CFG issuance and AI-driven infrastructure financing) plus a $181M gain on the MA Regulatory Solutions divestiture, pushing net income up 52% while MA growth remained a comparatively modest but healthy 4%.

Net Income

$878M

up 51.9% y/y

Revenue

$2,185M

up 15.1% y/y

Operating Income

$1,046M

up 27.9% y/y

Gross Profit

$1,667M

All figures in $M.

Sankey diagram of MCO earnings report for Q2 2026: revenue, costs and profit
Line item	Amount and change
Moody's Analytics	$925 · +4% · DS $423 / R&I $256 / D&I $246
Moody's Investors Service	$1,260 · +25% · CFG/SFG/FIG/PPIF ratings
Revenue	$2,185 · +15.1%
Operating Expense	$518 · +6%
Gross Profit	$1,667 · 76.3% margin
SG&A	$463 · +5%
D&A + Restructuring	$158 · +9% · D&A $126 + Restructuring $32
Operating Income	$1,046 · +27.9% · 47.9% margin
Non-Operating Income	$125 · vs -$46 · Gain on divestiture $181, net of interest expense $58*
Pre-Tax Income	$1,171 · +51.7%
Income Tax	$292 · +51% · 24.9% ETR
Net Income	$878 · +51.9% · $5.03 diluted EPS

Verdict: a strong quarter with 15% revenue growth led by a 25% surge in MIS ratings revenue (record CFG issuance and AI-driven infrastructure financing) plus a $181M gain on the MA Regulatory Solutions divestiture, pushing net income up 52% while MA growth remained a comparatively modest but healthy 4%.

OCF $1,718M (+$418M YoY); Free Cash Flow $1,532M; treasury share repurchases $2,184M YTD (~$701M in Q2); quarterly dividend $1.03/share; $1.8B remaining buyback authority.

Source and notation

* marks non-cash / ≈ estimated. Source: Moody's Corporation press release / 10-Q (SEC EDGAR).

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MCO — Moody's Corporation provides credit ratings, research, and risk analysis services.

It operates through its subsidiaries Moody's Investors Service and Moody's Analytics, serving global financial markets from its base in New York, USA.

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MCO · Q2 2026

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