Brown & Brown Posts Record Quarterly Net in Q1

Brown & Brown's  Q1 results have been released. For the quarter, net profit notched a new quarterly record at just over $60 million ($0.41 per diluted share), up 22% from the $49 million ($0.34) in the same period the previous year. Total revenue also improved over that time frame, coming in at $335 million against Q1 2012's figure of $302 million.

The growth rate in top line was 11% on a year-over-year basis. This outpaced the company's expenses, which rose a comparatively modest 7%.

Analysts had expected slightly higher revenue and lower EPS for the quarter. Their projections averaged $337 million and $0.39, respectively.

The article Brown & Brown Posts Record Quarterly Net in Q1 originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Brown & Brown, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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