MAYFIELD VILLAGE, Ohio (AP) — MAYFIELD VILLAGE, Ohio (AP) — Progressive Corp. (PGR) on Wednesday reported first-quarter earnings of $2.57 billion.
On a per-share basis, the Mayfield Village, Ohio-based company said it had net income of $4.37. Earnings, adjusted for investment costs, came to $4.65 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $4.72 per share.
The insurer posted revenue of $20.41 billion in the period. Its adjusted revenue was $20.62 billion, topping Street forecasts. Six analysts surveyed by Zacks expected $20.37 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PGR at https://www.zacks.com/ap/PGR
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