Market Overview

UPDATE: Progressive Posts Upbeat Q1 Earnings

Related PGR
Weekly Highlights: Apple Inc. iWatch Could Skip iPhone 6 Event, iCloud Hacking Not A Problem And More
Connected Car Startup Zubie Inks Deal With Progressive Insurance

The Progressive (NYSE: PGR) reported better-than-expected first-quarter earnings.

Progressive's quarterly net profit surged to $321.3 million, or $0.54 per share, versus a year-ago profit of $308.6 million, or $0.51 per share.

Its revenue rose 5.2% y/y to $4.68 billion. However, analysts were expecting a profit of $0.39 per share on revenue of $4.62 billion.

Progressive shares gained 0.25% to $24.22 at 10:25 a.m. ET.

Posted-In: profitEarnings News

 

Related Articles (PGR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters