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Moody's posts 2Q profit, results top Wall Street estimates

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NEW YORK — Moody's Corp. (MCO) on Friday reported second-quarter net income of $261.7 million.

On a per-share basis, the New York-based company said it had profit of $1.28.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.

The credit ratings agency posted revenue of $918.1 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $897.4 million.

Moody's expects full-year earnings to be $4.55 to $4.65 per share.

Moody's shares have climbed 17 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2 percent. The stock has increased 29 percent in the last 12 months.

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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 http://www.zacks.com/ap/MCO

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Keywords: Moody's, Earnings Report

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