NEW YORK (AP) — NEW YORK (AP) — Moody’s Corp. (MCO) on Wednesday reported second-quarter net income of $578 million.
The New York-based company said it had profit of $3.21 per share. Earnings, adjusted for amortization costs and restructuring costs, came to $3.56 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.44 per share.
The credit ratings agency posted revenue of $1.9 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $1.86 billion.
Moody’s expects full-year earnings in the range of $13.50 to $14 per share.
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