"Our first quarter results reflect a solid start to the year with seven percent earnings growth despite a significant headwind from foreign currency translation," said Greg CASE, President and Chief Executive Officer.
Total revenue decreased by 3.3% y-o-y to USD 2.84 billion "driven primarily by a 7% unfavorable impact from foreign currency translation, partially offset by 3% organic revenue growth and a 1% increase in commissions and fees related to acquisitions, net of divestitures", the company noted in a statement.
By divisions, Risk Solutions' total revenue was down by 5%, to USD 1.89 billion, while HR Solutions' total revenue also increased by 1%, to USD 970 million.
The operating income was USD 412 million in case of Risk Solutions (vs. USD 445 million in 1Q2014), while in case of HR Solutions the same indicator increased to USD 76 million vs. USD 9 million a year before.
Read the full release here.