NEW YORK (AP) — NEW YORK (AP) — Moody's Corp. (MCO) on Thursday reported fourth-quarter profit of $395 million.
On a per-share basis, the New York-based company said it had profit of $2.17. Earnings, adjusted for amortization costs and restructuring costs, came to $2.62 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.
The credit ratings agency posted revenue of $1.67 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $1.7 billion.
For the year, the company reported profit of $2.06 billion, or $11.26 per share. Revenue was reported as $7.09 billion.
Moody's expects full-year earnings in the range of $14 to $14.50 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
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