By Sabela Ojea

Marsh & McLennan Cos. on Thursday posted a rise in net income for its latest quarter, though adjusted earnings and revenue missed market expectations.

The insurance broker and benefits company said net income for the third quarter rose to $546 million, or $1.08 a share, from $537 million, or $1.05 a share, a year earlier.

Stripping out one-off items, earnings came in at $1.18 a share. Analysts surveyed by FactSet had forecast adjusted earnings of $1.26 a share.

Revenue rose 4.1% to $4.77 billion. Analysts had forecast $4.88 billion.

Risk and insurance revenue increased 6% to $2.8 billion, while revenue coming from its consulting services rose 1% to $2 billion, the company said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

October 20, 2022 07:37 ET (11:37 GMT)

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