DAYTONA BEACH, Fla. (AP) _ Brown & Brown Inc. (BRO) on Monday reported first-quarter net income of $152.4 million.
The Daytona Beach, Florida-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring gains, were 51 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The insurance company posted revenue of $698.5 million in the period.
Brown & Brown shares have decreased 9% since the beginning of the year. In the final minutes of trading on Monday, shares hit $35.83, a rise of 14% in the last 12 months.