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Marsh & McLennan sees 4% underlying revenue growth in Q1

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Marsh & McLennan sees 4% underlying revenue growth in Q1

reported first-quarter net income attributable to the company of $481 million,or 91 cents per share, compared to $482 million, or 88 cents per share, in theyear- ago quarter.

AdjustedEPS for the quarter was 92 cents, compared to 91 cents in the year-ago period.

The S&P Capital IQ consensusnormalized EPS estimate for the quarter was 89 cents.

Operating income for the quarterwas $733 million compared to $735 million in the prior-year quarter.

Consolidated revenue increased 4%year over year to $3.34 billion from $3.22 billion. Revenue also rose 4% on anunderlying basis. Underlying revenue measures the change in revenue usingconsistent currency exchange rates, excluding the impact of certain items thataffect comparability such as acquisitions, dispositions and transfers amongbusinesses.

Revenuefrom risk and insurance services grew to $1.87 billion from $1.80 billion.Consulting revenue increased year over year to $1.48 billion from $1.42billion.

Thecompany repurchased 3.5 million shares of its common stock for $200 million inthe first quarter.