DAYTONA BEACH, Fla.
Brown & Brown Inc. (BRO) on Monday reported second-quarter net income of $139.3 million.
On a per-share basis, the Daytona Beach, Florida-based company said it had profit of 49 cents.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The insurance company posted revenue of $727.3 million in the period.
Brown & Brown shares have climbed 15% since the beginning of the year. In the final minutes of trading on Monday, shares hit $54.40, an increase of 20% in the last 12 months.