UPDATE: Moody's Reports 56% Surge In Q2 Profit, Boosts FY11 Earnings Outlook

Moody's Corp MCO reported a 56% rise in its second-quarter profit. Moody's posted its quarterly profit at $189 million, or $0.82 per share, up from $121 million, or $0.51 per share, in the year-ago period. Excluding items, Moody's earnings came in at $0.79 per share. Its revenue climbed 27% to $605.2 million. However, analysts were expecting a profit of $0.57 per share on revenue of $549 million. Moody's raised its full-year earnings forecast to $2.38 to $2.48 per share, from $2.22 to $2.32 per share. Moody's shares gained 1.82% to $38.10 in pre-market trading.