Aon 3Q Swings to Loss, Revenue Rises
October 29 2021 - 5:45AM
Dow Jones News
By Dave Sebastian
Aon PLC said revenue rose for the third quarter, though it swung
to a loss as the company booked a $1.3 billion increase in charges
related to scrapping the deal with Willis Towers Watson PLC and
related costs.
The insurance brokerage on Friday posted a net loss attributable
to shareholders of $900 million, compared with a profit of $275
million in the year-ago period. It reported a loss of $3.99 a
share, compared with earnings of $1.18 a share a year earlier.
Adjusted earnings were $1.74 a share. Analysts polled by FactSet
were expecting $1.70 a share.
Revenue for the quarter rose to $2.7 billion from $2.39 billion
last year. Analysts were looking for $2.6 billion.
Operating expenses rose to $3.5 billion from $1.94 billion.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 29, 2021 06:30 ET (10:30 GMT)
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