UPDATE: Loews Reports Surge In Q3 Earnings

Loews Corp (NYSE: L) reported a rise in its third-quarter earnings.

Loews reported its quarterly profit at $162 million, or $0.40 per share, up from $36 million, or $0.09 per share, in the year-ago period. However, analysts were expecting earnings of $0.66 per share. Its revenue dropped 7.1% to $3.44 billion. Loews' revenue from insurance premiums gained 5.3% to $1.73 billion.

Loews shares fell 0.34% to close at $41.28 on Friday.