Marsh & McLennan's Consulting Arm Weighs on Quarterly Revenue
October 25 2016 - 8:08AM
Dow Jones News
By Ezequiel Minaya
Marsh & McLennan Cos. said its third-quarter sales were
nearly flat, pressured by a decline in revenue from its consulting
arm, though profit increased and topped analysts' expectations.
Marsh & McLennan--the professional-services firm that is the
parent of a number of companies, including the insurance-brokerage
Marsh and consulting firm Mercer--said it posted $1.51 billion in
revenue for its consulting business during the period, down 1.8%
from a year earlier.
The company's risk-and-insurance-services segment posted a
revenue increase of 3% to $1.63 billion.
Revenue in its Europe, Middle East and Africa segment jumped to
$394 million from $378 million, while U.S. and Canada revenue rose
to $729 million from $697 million.
For the quarter ended Sept. 30, Marsh & McLennan posted
income of $379 million, or 73 cents per share, up from last year's
$323 million, or 60 cents a share. On an adjusted basis, earnings
were 69 cents a share, up from 63 cents.
Revenue rose 0.6% to $3.14 billion.
Analysts polled by Thomson Reuters had expected 68 cents in
per-share earnings on revenue of $3.25 billion.
Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com
(END) Dow Jones Newswires
October 25, 2016 07:53 ET (11:53 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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