Marsh & McLennan: 2Q Earnings Snapshot
NEW YORK (AP) _ Marsh & McLennan Cos. (MMC) on Tuesday reported second-quarter net income of $332 million.
On a per-share basis, the New York-based company said it had profit of 65 cents. Earnings, adjusted for non-recurring costs and to extinguish debt, were $1.18 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The global professional services firm providing strategy, risk and people solutions posted revenue of $4.35 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $4.34 billion.
Marsh & McLennan shares have increased 29% since the beginning of the year, while the Standard & Poor’s 500 index has increased 21%. The stock has climbed 22% in the last 12 months.