DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported second-quarter earnings of $231 million.
The Daytona Beach, Florida-based company said it had profit of 78 cents per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were $1.03 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.
The insurance company posted revenue of $1.29 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.28 billion.
Brown & Brown shares have risen 0.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $102.58, a climb of slightly more than 3% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRO at https://www.zacks.com/ap/BRO
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