NEW YORK (AP) — NEW YORK (AP) — Moody’s Corp. (MCO) on Wednesday reported third-quarter profit of $646 million.
On a per-share basis, the New York-based company said it had profit of $3.60. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $3.92 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.70 per share.
The credit ratings agency posted revenue of $2.01 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $1.96 billion.
Moody’s expects full-year earnings in the range of $14.50 to $14.75 per share.
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