NEW YORK (AP) — NEW YORK (AP) — Moody’s Corp. (MCO) on Tuesday reported fourth-quarter net income of $340 million.
On a per-share basis, the New York-based company said it had profit of $1.85. Earnings, adjusted for amortization costs and restructuring costs, came to $2.19 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.34 per share.
The credit ratings agency posted revenue of $1.48 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $1.49 billion.
For the year, the company reported profit of $1.61 billion, or $8.73 per share. Revenue was reported as $5.92 billion.
Moody’s expects full-year earnings in the range of $10.25 to $11 per share.
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