Marsh & McLennan Posts Stronger-Than-Expected Results
April 28 2016 - 8:50AM
Dow Jones News
By Ezequiel Minaya
Professional-services firm Marsh & McLennan Cos. on Thursday
reported stronger-than-expected results for its first quarter, as
the company posted revenue increases in its consulting and risk and
insurance business.
Marsh & McLennan is the parent of a number of companies,
including the insurance-brokerage Marsh and consulting firm
Mercer.
In all, its quarterly profit slipped to $481 million, or 91
cents a share, from $482 million, or 88 cents a share, a year
earlier. Excluding certain items, earnings rose to 92 cents from 91
cents a year earlier.
Revenue rose 3.8% to $3.34 billion.
Analysts surveyed by Thomson Reuters expected earnings of 88
cents a share on $3.31 billion in revenue.
In the risk and insurance business, core revenue, which excludes
the impact of currency and acquisitions, grew 2%, with strong
growth in Latin America and the Asia Pacific region.
Consulting revenue grew 6% on a core basis, driven by 6% growth
in its health business.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
April 28, 2016 08:35 ET (12:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Marsh and McLennan Compa... (NYSE:MMC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Marsh and McLennan Compa... (NYSE:MMC)
Historical Stock Chart
From Apr 2023 to Apr 2024