Progressive Earnings Beat, Revenue Misses In Q1
Investing.com - Progressive (NYSE:PGR) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Progressive announced earnings per share of $1.92 on revenue of $9.87B. Analysts polled by Investing.com anticipated EPS of $1.53 on revenue of $10.1B. That with comparison to EPS of $1.34 on revenue of $9.24B in the same period a year before. Progressive had reported EPS of $1.81 on revenue of $9.9B in the previous quarter. Analysts are expecting EPS of $1.55 and revenue of $9.95B in the upcoming quarter.
Progressive shares are up 9.46% from the beginning of the year , still down 6.73% from its 52 week high of $84.96 set on July 15, 2019. They are outperforming the S&P 500 which is down 14.19% year to date.
Progressive shares lost 1.52% in intra-day trade following the report.
Progressive follows other major Financial sector earnings this month
Progressive's report follows an earnings missed by JPMorgan on Tuesday, who reported EPS of $0.78 on revenue of $29.07B, compared to forecasts EPS of $2.28 on revenue of $29.53B.
UnitedHealth had beat expectations on Wednesday with first quarter EPS of $3.72 on revenue of $64.42B, compared to forecast for EPS of $3.63 on revenue of $64.18B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar
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