Marsh & McLennan Companies Inc (MMC) announced a rise in profits for its fourth quarter, surpassing previous forecasts.
The firm reported a net profit of $756 million, equivalent to $1.52 per share, surpassing the previous year's fourth-quarter earnings of $466 million, or $0.93 per share.
When special items are excluded, Marsh & McLennan reported an adjusted income of $838 million for the time period, translating to $1.68 per share. The average analyst prediction called for $1.63 per share, according to data gathered by Thomson Reuters. Typically, these estimates do not factor in special items.
Marsh & McLennan also witnessed a 10.6% rise in its revenue for the fourth quarter, reaching $5.55 billion, up from $5.02 billion in the previous year.
To give a snapshot of Marsh & McLennan's financial performance under Generally Accepted Accounting Principles (GAAP):
- Fourth Quarter Earnings: $756 million, increased from $466 million from last year.
- Fourth Quarter Earnings Per Share (EPS): $1.52, increased from $0.93 from last year.
- Analyst Estimate: $1.63
- Fourth Quarter Revenue: $5.55 billion, increased from $5.02 billion from last year.
