UPDATE: Travelers Q1 Profit Surges 11%

Travelers

reported an 11% rise in its first-quarter profit. Travelers' quarterly profit surged to $896 million, or $2.33 per share, from $806 million, or $2.02 per share, in the year-ago period. Its revenue declined 1% to $6.33 billion from $6.39 billion. However, analysts were expecting earnings of $2.02 per share on revenue of $6.23 billion. Travelers shares gained 3.12% to $87.22 in pre-market trading.