Moody`s Corp. Q1 Profit Decreases, misses estimates

(RTTNews) - Moody`s Corp. (MCO) revealed a profit for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $498 million, or $2.68 per share. This compares with $736 million, or $3.90 per share, in last year's first quarter.

Excluding items, Moody`s Corp. reported adjusted earnings of $537 million or $2.89 per share for the period.

Analysts on average had expected the company to earn $2.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.0% to $1.52 billion from $1.60 billion last year.

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

-Earnings (Q1): $498 Mln. vs. $736 Mln. last year. -EPS (Q1): $2.68 vs. $3.90 last year. -Analyst Estimates: $2.90 -Revenue (Q1): $1.52 Bln vs. $1.60 Bln last year.

-Guidance: Full year EPS guidance: Adj; $10.75 - $11.25