NEW YORK (AP) — NEW YORK (AP) — Moody’s Corp. (MCO) on Wednesday reported first-quarter profit of $661 million.
The New York-based company said it had net income of $3.73 per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $4.33 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.25 per share.
The credit ratings agency posted revenue of $2.08 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $2.07 billion.
Moody’s expects full-year earnings in the range of $16.40 to $17 per share.
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