UPDATE: Loews Q2 Net Profit Drops 78%
Loews (NYSE: L) reported a drop in its second-quarter profit.
Loews' quarterly net income declined to $56 million, or $0.14 per share, versus $250 million, or $0.61 per share, in the year-ago period.
Its revenue dropped 4.3% to $3.39 billion. Loews' revenue from insurance premiums gained 4.6% to $1.67 billion.
Loews shares closed at $41.70 on Friday.
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