Progressive: Q1 Earnings Snapshot
By AP News
Published - Apr 12, 2024, 08:30 AM ET
Last Updated - Apr 12, 2024, 08:30 AM EDT
MAYFIELD VILLAGE, Ohio (AP) — MAYFIELD VILLAGE, Ohio (AP) — Progressive Corp. (PGR) on Friday reported first-quarter profit of $2.33 billion.
The Mayfield Village, Ohio-based company said it had profit of $3.94 per share. Earnings, adjusted for investment gains, came to $3.73 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.20 per share.
The insurer posted revenue of $17.24 billion in the period. Its adjusted revenue was $17.09 billion, also beating Street forecasts. Six analysts surveyed by Zacks expected $16.61 billion.
