NEW YORK — Moody's Corp. (MCO) on Friday reported first-quarter profit of $230.1 million.
On a per-share basis, the New York-based company said it had profit of $1.11.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The credit ratings agency posted revenue of $865.6 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $828.1 million.
Moody's expects full-year earnings to be $4.55 to $4.65 per share.
Moody's shares have risen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 1 percent. The stock has risen 37 percent in the last 12 months.
Keywords: Moody's, Earnings Report
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