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Moody’s: 3Q Earnings Snapshot

October 30, 2019 GMT

NEW YORK (AP) _ Moody’s Corp. (MCO) on Wednesday reported third-quarter net income of $379.4 million.

On a per-share basis, the New York-based company said it had profit of $1.99. Earnings, adjusted for amortization costs, were $2.15 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.

The credit ratings agency posted revenue of $1.24 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.18 billion.

Moody’s expects full-year earnings in the range of $8.05 to $8.20 per share.

Moody’s shares have climbed 57% since the beginning of the year, while the Standard & Poor’s 500 index has risen 21%. The stock has risen 56% 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 https://www.zacks.com/ap/MCO