WASHINGTON (dpa-AFX) - Moody's Corp. (MCO) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $246 million, or $1.34 per share. This compares with $427 million, or $2.28 per share, in last year's fourth quarter.
Excluding items, Moody's Corp. reported adjusted earnings of $295 million or $1.60 per share for the period.
Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 16.2% to $1.29 billion from $1.54 billion last year.
Moody's Corp. earnings at a glance (GAAP) :
-Earnings (Q4): $246 Mln. vs. $427 Mln. last year. -EPS (Q4): $1.34 vs. $2.28 last year. -Analyst Estimates: $1.44 -Revenue (Q4): $1.29 Bln vs. $1.54 Bln last year.
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