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Moody's Outlook Falls Shot of Estimates, Stock Drops 7.74%

Shares of Moody's Corp. $$ fell 7.74% in premarket trades on Monday after the debt ratings firm said it expects flat revenue in 2022 and adjusted 2022 earnings of $10.75 a share to $11.25 a share. Moody's said the view is based on a projection for continued volatility in 2022. Wall Street analysts had expected 2022 earnings of $11.92 a share, with an increase in revenue to $6.42 billion from $6.22 billion in 2021, according to FactSet data. Moody's reported first-quarter profit of $498 million,
Moody's Outlook Falls Shot of Estimates, Stock Drops 7.74%

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