Shares of insurance broker Marsh & McLennan Inc. (NYSE: MMC) are trading slightly higher this morning, despite missing earnings estimates and posting a 62% decline in its fourth-quarter profit. The company said its profit dropped to $85 million, or 16 cents per share during the fourth quarter, hurt by weak earnings results from its risk and insurance services business. These numbers are down from $226 million, or 40 cents per share, in the same period a year ago.
Included in the company's earnings numbers were discontinued operations and one-time costs. Excluding that, Marsh & McLennan posted earnings of 26 cents a share. Analysts, on average, expected the company to show earnings of 31 cents per share, according to Thomson Financial.
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