Moody's Reports Earnings Beat in Q4, Revenue Falls Short
NEW YORK (AP) - Moody's Corp. (MCO) reported a $395 million profit for the fourth quarter on Thursday. On a per-share basis, the company saw earnings of $2.17. Adjusted earnings, excluding amortization and restructuring costs, amounted to $2.62 per share.
Analysts had forecast earnings of $2.60 per share, leading to the company surpassing Wall Street expectations.
Revenue for the quarter reached $1.67 billion, slightly below analysts' estimates of $1.7 billion.
For the full year, Moody's posted a $2.06 billion profit, or $11.26 per share, on revenue of $7.09 billion.
The credit ratings agency anticipates full-year earnings in the range of $14 to $14.50 per share.