LONDON (AP) — Aon PLC, the insurance brokerage, said Friday that its net income fell 2 percent in the second quarter as its expenses rose.
The London-based company said that it earned $241 million, or 76 cents per share, in the three months ended June 30, versus $246 million, or 73 cents per share, in the same period a year ago. Earnings per share rose because the number of shares the company has outstanding shares fell 5 percent in the latest quarter.
Adjusted for charges related to the restructuring of its Aon Hewitt human resources consulting business and other items, the company said that it earned $1.11 per share. That's a penny above the $1.10 per share analysts expected, according to FactSet.
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Revenue rose 3 percent to $2.9 billion in the second quarter from $2.8 billion in the same quarter a year ago. That's in-line with the $2.9 billion in revenue analysts expected.
Operating expenses rose 4 percent to $2.5 billion from $2.4 billion.
Aon shares fell 64 cents to $66.91 in afternoon trading Friday after rising as high as $67.35 earlier in the session. That is just shy of their 52-week high of $67.95.
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