Aon: 1Q Earnings Snapshot
LONDON (AP) _ Aon PLC (AON) on Friday reported first-quarter net income of $772 million.
The London-based company said it had profit of $3.29 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $3.68 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.70 per share.
The insurance brokerage posted revenue of $3.22 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.31 billion.
Aon shares have decreased 17% since the beginning of the year, while the Standard & Poor’s 500 index has dropped roughly 10%. The stock has dropped 3% in the last 12 months.