In a story and in headlines about third-quarter earnings results, The Associated Press reported erroneously in a report generated by Automated Insights using data from Zacks Investment Research that Brown & Brown Inc. missed third-quarter Wall Street profit forecasts. The company actually met Wall Street profit expectations.
A corrected version of the story is below:
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Brown & Brown meets 3Q profit forecasts
Brown & Brown meets 3Q profit expectations
DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported net income of $68.2 million in its third quarter.
On a per-share basis, the Daytona Beach, Florida-based company said it had profit of 47 cents.
The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The insurance company posted revenue of $421.3 million in the period, which fell short of Street forecasts. Analysts expected $424.5 million, according to Zacks.
Brown & Brown shares have increased slightly since the beginning of the year. The stock has dropped 5 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. BRO stock research report from Zacks: http://www.zacks.com/ap/BRO
Keywords:Brown & Brown,Earnings Report