Willis saw strong organic growth in Q2 2014 that beat analysts’ expectations, but that was more than offset by increased expenses, resulting in what analysts at Nomura called a “messy miss” for the broker.

Willis reports total Q2 revenue growth of $935 million, or 5.1% growth over Q2 2013. Organic growth was 4.5%, ahead of Nomura’s 2.7% estimate and Sterne Agee’s 4% estimate.

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