Moody's Corp MCO shares are trading lower Monday after the company reported worse-than-expected financial results and issued guidance below analyst estimates.
Moody's said first-quarter revenue declined 5% year-over-year to $1.5 billion, which came in below the $1.51 billion estimate. The company reported quarterly earnings of $2.89 per share, which came in below the estimate of $2.90 per share.
Moody's said it expects full-year 2022 adjusted earnings to be in a range of $10.75 to $11.25 per share versus the estimate of $11.91 per share.
Moody's is a global integrated risk assessment firm that empowers organizations to make better decisions.
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MCO 52-Week Range: $299.68 - $407.94
According to data from Benzinga Pro, the stock was down 9.31% at $287 at press time.
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