Brown & Brown Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Brown & Brown Inc. (BRO) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $257 million, or $0.90 per share. This compares with $190 million, or $0.67 per share, in last year's second quarter.

Excluding items, Brown & Brown Inc. reported adjusted earnings of $0.93 per share for the period.

Analysts on average had expected the company to earn $0.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.4% to $1.18 billion from $1.05 billion last year.

Brown & Brown Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $257 Mln. vs. $190 Mln. last year. -EPS (Q2): $0.90 vs. $0.67 last year. -Revenue (Q2): $1.18 Bln vs. $1.05 Bln last year.