By Chris Wack
Root shares were 27% to $124.98 after the company reported a fourth-quarter profit, while analysts were expecting a loss.
The insurance services company said it had quarterly net income of $22.1 million, or $1.30 a share, compared with a loss of $24 million, or $1.64 a share, in the same quarter last year. Analysts polled by FactSet were expecting a loss of $7.1 million, or 47 cents a share.
Revenue for the quarter was $326.7 million, compared with last year's $194.8 million and the $291 million analysts were expecting.
Root said policies in force for the quarter increased 21% to 414,862, and gross premiums written rose to $331 million.
The stock hit its 52-week high of $141.23 on Feb. 13, and is up 356% in the past 12 months.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 27, 2025 09:59 ET (14:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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