Moody’s: 2Q Earnings Snapshot
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.