NEW YORK (AP) — NEW YORK (AP) — The Travelers Cos. (TRV) on Wednesday reported first-quarter profit of $395 million.
The New York-based company said it had net income of $1.70 per share. Earnings, adjusted for investment costs, were $1.91 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The insurer posted revenue of $11.81 billion in the period. Its adjusted revenue was $11.87 billion, missing Street forecasts. Ten analysts surveyed by Zacks expected $12.13 billion.
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