Marsh & McLennan's chief executive called the professional services firm's second-quarter financial results disappointing, with its flagship subsidiary, insurance broker Marsh, reporting a 6 percent drop in revenues.

“We view our performance in the second quarter as mixed, and we are not satisfied with a mixed performance,” said Michael G. Cherkasky, MMC president and chief executive officer, during an analyst's conference call.

For the quarter, net income was up slightly by 4 percent, or $6 million, going from $166 million to $172 million. Earnings per share remained unchanged at 31 cents a share, missing analysts' estimate of 44 cents a share. Revenues were virtually unchanged, up only $3 million at $2.9 billion.

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