MAYFIELD VILLAGE, Ohio (AP) 鈥� MAYFIELD VILLAGE, Ohio (AP) 鈥� Progressive Corp. (PGR) on Wednesday reported second-quarter earnings of $3.31 billion.
The Mayfield Village, Ohio-based company said it had net income of $5.67 per share. Earnings, adjusted for investment gains, were $4.85 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.70 per share.
The insurer posted revenue of $23.61 billion in the period. Its adjusted revenue was $23.01 billion, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $23.09 billion.
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