Marsh & McLennan 4Q matches market expectations
Marsh & McLennan revenue and profit rise in 4th quarter
NEW YORK (AP) -- Marsh & McLennan Cos. Inc. reported Tuesday that its revenue and profit for the fourth quarter met market expectations for the consulting and professional services firm.
Net income was $259 million, or 47 cents per share, for the quarter that ended Dec. 31. That compares with $256 million, or 46 cents per share, in the same quarter a year ago. The company earned 52 cents per share on an adjusted basis in the most recent quarter, excluding one-time items.
Total revenue rose by 3 percent to $3 billion on gains in its consulting and risk and insurance businesses.
Both adjusted earnings and revenue matched Wall Street estimates, according to FactSet.
Shares fell 78 cents to $35.57 in afternoon trading. The stock is up about 10 percent since this time last year.
