Marsh & McLennan earnings down in fourth quarter, revenues up across all businesses
Marsh & McLennan Cos. reported net income of $294 million in the fourth quarter, a slight decline from the year-ago period. Consolidated revenue was $3.2 billion for the quarter, up 4 percent from the fourth quarter of 2013, according to a release. For all of 2014, revenue was $13 billion, an increase of 6 percent from 2013, operating income rose 11 percent to $2.3 billion. Adjusted operating income, which was also $2.3 billion, rose 10 percent. Income from continuing operations was $1.5 billion, or $2.61 per share. Discontinued operations, net of tax, was $26 million, or 4 cents per share, compared with $6 million, or 1 cent per share, in the prior year. Net income attributable to the company was $1.5 billion, or $2.65 per share. Adjusted earnings per share for 2014 increased 14 percent to $2.82, compared with $2.48 in 2013.