NEW YORK — Moody's Corp. (MCO) on Friday reported fourth-quarter net income of $217.9 million.
On a per-share basis, the New York-based company said it had net income of $1.09.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The credit ratings agency posted revenue of $865.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $850.3 million.
For the year, the company reported profit of $941.3 million, or $4.63 per share. Revenue was reported as $3.48 billion.
Moody's expects full-year earnings to be $4.75 to $4.85 per share.
Moody's shares have fallen 13 percent since the beginning of the year, while the Standard & Poor's 500 index has declined slightly more than 6 percent. The stock has declined 5.5 percent in the last 12 months.
Keywords: Moody's, Earnings Report