ZURICH (AP) — ZURICH (AP) — Chubb Corp. (CB) on Tuesday reported fourth-quarter earnings of $2.58 billion.
The Zurich-based company said it had net income of $6.33 per share. Earnings, adjusted for non-recurring gains, were $6.02 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $5.46 per share.
The insurer posted revenue of $14.18 billion in the period. Its adjusted revenue was $14.29 billion, missing Street forecasts. Seven analysts surveyed by Zacks expected $14.48 billion.
For the year, the company reported profit of $9.27 billion, or $22.70 per share. Revenue was reported as $56.22 billion.
Chubb shares have dropped 1.5% since the beginning of the year, while the S&P’s 500 index has climbed 27%. In the final minutes of trading on Tuesday, shares hit $272.27, an increase of 12% 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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