Moody`s Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Moody`s Corp. (MCO) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $577 million, or $3.15 per share. This compares with $501 million, or $2.72 per share, in last year's first quarter.

Excluding items, Moody`s Corp. reported adjusted earnings of $618 million or $3.37 per share for the period.

Analysts on average had expected the company to earn $3.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.8% to $1.79 billion from $1.47 billion last year.

Moody`s Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $577 Mln. vs. $501 Mln. last year. -EPS (Q1): $3.15 vs. $2.72 last year. -Revenue (Q1): $1.79 Bln vs. $1.47 Bln last year.

-Guidance: Full year EPS guidance: $10.40 to $11.00