Marsh & McLennan has reported third quarter consolidated revenues of $3.3bn, which represents an increase of 7% compared with the third quarter of 2016. On an underlying basis, revenue increased 3%. Operating income was $597m, an increase of 4% on last year. Adjusted operating income increased 11% to $624m. Net income attributable to the Company was $393m. Net income per share attributable to the Company rose 4% to $0.76 from $0.73 last year. Adjusted earnings per share was $0.79, up 14%. For the nine months ended September 30, 2017, consolidated revenue was $10.3bn, an increase of 5%, or 3% on an underlying basis. Net income attributable to the Company increased 10% to $1.5bn. Earnings per share rose 11% to $2.81. Adjusted earnings per share increased 13% to $2.87 compared with $2.53 for the comparable period in 2016. Dan Glaser, President and CEO, said: "In the third quarter, on a consolidated basis, we generated solid underlying revenue growth of 3% and adjusted operating income growth of 11%. Underlying revenue growth was 3% in Risk and Insurance Services and 2% in Consulting, with margin expansion in both segments on an adjusted basis. Earnings per share increased 4% to $0.76, while adjusted EPS rose 14% to $0.79." "Through the first nine months we have generated underlying revenue growth in all four operating companies and solid earnings growth. With strong performance through the first three quarters of the year, we believe the Company is well positioned to deliver underlying revenue growth, margin expansion in both segments, and strong earnings per share growth for the full year," concluded Mr. Glaser.
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