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DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported first-quarter net income of $235.5 million.
The Daytona Beach, Florida-based company said it had net income of 83 cents per share. Earnings, adjusted for non-recurring costs, came to 84 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The insurance company posted revenue of $1.12 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.06 billion.
Brown & Brown shares have risen 7% since the beginning of the year. In the final minutes of trading on Monday, shares hit $61.06, a decrease of almost 10% 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 BRO">Zacks stock report on BRO at https://www.zacks.com/ap/BRO