NEW YORK (AP) — NEW YORK (AP) — Moody’s Corp. (MCO) on Wednesday reported second-quarter earnings of $878 million.
On a per-share basis, the New York-based company said it had net income of $5.03. Earnings, adjusted for one-time gains and costs, were $4.68 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.24 per share.
The credit ratings agency posted revenue of $2.19 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $2.09 billion.
Moody’s expects full-year earnings in the range of $16.50 to $17 per share.
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