NEW YORK (AP) — NEW YORK (AP) — Moody’s Corp. (MCO) on Wednesday reported third-quarter profit of $389 million.
On a per-share basis, the New York-based company said it had profit of $2.11. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $2.43 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.
The credit ratings agency posted revenue of $1.47 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $1.46 billion.
Moody’s expects full-year earnings in the range of $9.75 to $10.25 per share.
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