MAYFIELD VILLAGE, Ohio (AP) — MAYFIELD VILLAGE, Ohio (AP) — Progressive Corp. (PGR) on Tuesday reported third-quarter profit of $2.33 billion.
On a per-share basis, the Mayfield Village, Ohio-based company said it had profit of $3.97. Earnings, adjusted for investment gains, came to $3.58 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.40 per share.
The insurer posted revenue of $19.72 billion in the period. Its adjusted revenue was $19.43 billion, also beating Street forecasts. Eight analysts surveyed by Zacks expected $18.95 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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