Florida-based Brown & Brown Inc. (BRO), a global insurance broker, reported second-quarter earnings of $190.4 million.
The Daytona Beach company said it had profit of 67 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 68 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The insurance company posted revenue of $1.05 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $982 million.
Brown & Brown shares have risen 24% since the beginning of the year. In the final minutes of trading on Monday, shares hit $70.63, a rise of 14% in the last 12 months.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Husband and Wife Insurance Brokers Sentenced for Fraud Scheme 
Cost of a Data Breach Reaches Record $5 Million on Average 
Lemonade Posts $43M Loss for Q2 as it Continues to Grow Customer Base 
Company at Center of Cyclospora Outbreak Complained to White House, Source Says 
