FAIRFIELD, Ohio (AP) — FAIRFIELD, Ohio (AP) — Cincinnati Financial Corp. (CINF) on Thursday reported first-quarter profit of $755 million.
On a per-share basis, the Fairfield, Ohio-based company said it had profit of $4.78. Earnings, adjusted for investment gains, were $1.72 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.
The insurer posted revenue of $2.94 billion in the period. Its adjusted revenue was $2.32 billion, missing Street forecasts. Five analysts surveyed by Zacks expected $2.36 billion.
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