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Moody's: 1Q Earnings Snapshot

NEW YORK (AP) _ Moody's Corp. (MCO) on Wednesday reported first-quarter profit of $372.9 million.

The New York-based company said it had net income of $1.93 per share. Earnings, adjusted for amortization costs and restructuring costs, were $2.07 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.88 per share.

The credit ratings agency posted revenue of $1.14 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.13 billion.

Moody's expects full-year earnings in the range of $7.85 to $8.10 per share.

Moody's shares have risen 35 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 percent. The stock has risen 16 percent in the last 12 months.


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