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Moody’s: 2Q Earnings Snapshot

July 31, 2019

NEW YORK (AP) _ Moody’s Corp. (MCO) on Wednesday reported second-quarter earnings of $310.3 million.

On a per-share basis, the New York-based company said it had net income of $1.62. Earnings, adjusted for one-time gains and costs, were $2.07 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share.

The credit ratings agency posted revenue of $1.21 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.18 billion.

Moody’s expects full-year earnings in the range of $7.95 to $8.15 per share.

Moody’s shares have increased 44% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has increased 18% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCO at https://www.zacks.com/ap/MCO

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