ZURICH (AP) — ZURICH (AP) — Chubb Corp. (CB) on Tuesday reported first-quarter net income of $2.14 billion.
The Zurich-based company said it had net income of $5.23 per share. Earnings, adjusted for non-recurring costs, came to $5.41 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.29 per share.
The insurer posted revenue of $12.89 billion in the period. Its adjusted revenue was $13.07 billion, which also beat Street forecasts. Six analysts surveyed by Zacks expected $12.63 billion.
Chubb shares have increased 10% since the beginning of the year, while the S&P’s 500 index has climbed slightly more than 6%. In the final minutes of trading on Tuesday, shares hit $249.61, a climb of 24% in the last 12 months.
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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 CB at https://www.zacks.com/ap/CB
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