WASHINGTON (dpa-AFX) - Moody's Corp. (MCO) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $501 million, or $2.72 per share. This compares with $498 million, or $2.68 per share, in last year's first quarter.
Excluding items, Moody's Corp. reported adjusted earnings of $550 million or $2.99 per share for the period.
Analysts on average had expected the company to earn $2.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 3.3% to $1.47 billion from $1.52 billion last year.
Moody's Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $501 Mln. vs. $498 Mln. last year. -EPS (Q1): $2.72 vs. $2.68 last year. -Analyst Estimate: $2.20 -Revenue (Q1): $1.47 Bln vs. $1.52 Bln last year.
-Guidance: Full year EPS guidance: $9.50 to $10.00
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