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Moody's: 3Q Earnings Snapshot

10/29/2020 | 06:25am

NEW YORK (AP) _ Moody's Corp. (MCO) on Thursday reported third-quarter earnings of $467 million.

The New York-based company said it had net income of $2.47 per share. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, came to $2.69 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.

The credit ratings agency posted revenue of $1.36 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.25 billion.

Moody's expects full-year earnings in the range of $9.95 to $10.15 per share.

Moody's shares have climbed 10% since the beginning of the year, while the Standard & Poor's 500 index has climbed 1%. The stock has risen 21% in the last 12 months.

This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on MCO at

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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