DAYTONA BEACH, Fla. (AP) _ Brown & Brown Inc. (BRO) on Monday reported third-quarter net income of $161.1 million.

The Daytona Beach, Florida-based company said it had profit of 57 cents per share. Earnings, adjusted for non-recurring gains, were 50 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The insurance company posted revenue of $927.6 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $946.5 million.

Brown & Brown shares have fallen 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $63.08, a decrease of 5% in the last 12 months.

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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