WTW Q1 Profit Tops Estimates; Revenue Up 8% On Organic Basis

(RTTNews) - WTW (WTW) reported first quarter net income of $206 million, an increase of 65% from $125 million, last year. Earnings per share was $1.88, up 83% over prior year. Adjusted earnings per share was $2.84 for the quarter, up 7%. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $2.79, for the quarter. Analysts' estimates typically exclude special items.

Revenue was $2.24 billion for the first quarter of 2023, an increase of 4% as compared to $2.16 billion, prior year. Excluding a 3% foreign currency headwind, revenue increased 7%. On an organic basis, revenue increased 8%. Analysts on average had estimated $2.22 billion in revenue.

For 2023, the company expects to deliver mid-single digit organic revenue growth.

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