DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $210 million.
On a per-share basis, the Daytona Beach, Florida-based company said it had net income of 73 cents. Earnings, adjusted for one-time gains and costs, came to 86 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The insurance company posted revenue of $1.18 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.11 billion.
For the year, the company reported profit of $993 million, or $3.46 per share. Revenue was reported as $4.81 billion.
Brown & Brown shares have risen almost 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $107.84, a rise of 40% 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 Zacks stock report on BRO at https://www.zacks.com/ap/BRO
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