NEW YORK (AP) _ Moody's Corp. (MCO) on Wednesday reported first-quarter net income of $736 million.

The New York-based company said it had net income of $3.90 per share. Earnings, adjusted for amortization costs, were $4.06 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.80 per share.

The credit ratings agency posted revenue of $1.6 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.42 billion.

Moody's expects full-year earnings in the range of $11 to $11.30 per share.

Moody's shares have risen 12% since the beginning of the year, while the S&P's 500 index has climbed 11%. The stock has increased 28% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCO at https://www.zacks.com/ap/MCO

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