Moody’s: Q4 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Moody’s Corp. (MCO) on Wednesday reported fourth-quarter net income of $610 million.
The New York-based company said it had profit of $3.41 per share. Earnings, adjusted for one-time gains and costs, were $3.64 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.45 per share.
The credit ratings agency posted revenue of $1.89 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.88 billion.
For the year, the company reported profit of $2.46 billion, or $13.67 per share. Revenue was reported as $7.72 billion.
Moody’s expects full-year earnings in the range of $16.40 to $17 per share.
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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