Brown & Brown Q2 Earnings Beat Expectations

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.