By Dave Sebastian
Marsh & McLennan Cos. Inc. said its profit for the fourth quarter fell as expenses rose, though revenue increased.
The New York-based advisory firm Thursday posted net income of $374 million, or 73 cents a share, compared with $391 million, or 76 cents a share, in the comparable quarter last year.
Adjusted earnings were $1.19 a share. Analysts polled by FactSet were looking for $1.13 a share.
Revenue rose 3.6%, to $4.42 billion. Analysts were looking for $4.27 billion.
Risk and insurance services revenue rose about 6%, to $2.5 billion. Consulting revenue ticked up 1%, to $1.9 billion.
Operating expenses rose to $3.85 billion from $3.67 billion.
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(END) Dow Jones Newswires
January 28, 2021 07:31 ET (12:31 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.