UPDATE: Marsh & McLennan Posts In-Line Q4 Earnings

reported in-line earnings for the fourth quarter. The New York-based company posted quarterly net income of $294 million, or $0.54 per share, versus $303 million, or $0.54 per share, in the year-ago quarter. Its adjusted earnings climbed 16% to $0.66 per share. Its revenue rose to $3.246 billion from $3.115 billion. However, analysts were expecting earnings of $0.66 per share on revenue of $3.3 billion. Risk and insurance services revenue gained 4% to $1.7 billion, while consulting revenue surged 5% to $1.6 billion. Operating income climbed 10% to $536 million from $489 million, while adjusted operating income climbed 9% to $553 million. During the quarter, Marsh & McLennan repurchased 3.7 million shares of its common stock for $200 million. Dan Glaser, President and CEO said, "We're proud to have delivered another year of excellent results, with strong revenue and EPS growth and the return of capital to shareholders through double-digit growth in dividends and increased share repurchases." Marsh & McLennan shares rose 0.89% to close at $55.82 yesterday.