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Marsh & McLennan: 1Q Earnings Snapshot

NEW YORK (AP) _ Marsh & McLennan Cos. (MMC) on Thursday reported first-quarter net income of $716 million.

The New York-based company said it had net income of $1.40 per share. Earnings, adjusted for non-recurring costs, came to $1.52 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.

The global professional services firm providing strategy, risk and people solutions posted revenue of $4.07 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $4.2 billion.

Marsh & McLennan shares have risen 19 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent. The stock has risen 15 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MMC at https://www.zacks.com/ap/MMC