Moody`s Corp. (MCO) revealed earnings for second quarter that decreased from last year and missed the Street estimates.
The company's earnings totaled $327 million, or $1.77 per share. This compares with $577 million, or $3.07 per share, in last year's second quarter.
Excluding items, Moody`s Corp. reported adjusted earnings of $410 million or $2.22 per share for the period.
Analysts on average had expected the company to earn $2.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 11.0% to $1.38 billion from $1.55 billion last year.
Moody`s Corp. earnings at a glance (GAAP) :
-Earnings (Q2): $327 Mln. vs. $577 Mln. last year.
-EPS (Q2): $1.77 vs. $3.07 last year.
-Analyst Estimates: $2.33
-Revenue (Q2): $1.38 Bln vs. $1.55 Bln last year.
-Guidance:
Full year EPS guidance: $9.20 to $9.70
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