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Moody's posts 1Q profit, results top Street expectations

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NEW YORK — Moody's Corp. (MCO) on Friday reported first-quarter profit of $230.1 million.

On a per-share basis, the New York-based company said it had profit of $1.11.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The credit ratings agency posted revenue of $865.6 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $828.1 million.

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

Moody's shares have risen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 1 percent. The stock has risen 37 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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