NEW YORK (AP) _ Moody's Corp. (MCO) on Thursday reported second-quarter earnings of $509 million.
On a per-share basis, the New York-based company said it had profit of $2.69. Earnings, adjusted for one-time gains and costs, were $2.81 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The credit ratings agency posted revenue of $1.44 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.27 billion.
Moody's expects full-year earnings in the range of $8.80 to $9.20 per share.
Moody's shares have climbed 18% since the beginning of the year, while the Standard & Poor's 500 index has risen 1%. In the final minutes of trading on Thursday, shares hit $281.30, an increase of 31% in the last 12 months.