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UPDATE: Progressive Posts Upbeat Q1 Earnings


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.


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