MAYFIELD VILLAGE, Ohio (AP) — MAYFIELD VILLAGE, Ohio (AP) — Progressive Corp. (PGR) on Wednesday reported fourth-quarter net income of $2.95 billion.
The Mayfield Village, Ohio-based company said it had net income of $5.02 per share. Earnings, adjusted for investment gains, were $4.67 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.44 per share.
The insurer posted revenue of $22.75 billion in the period. Its adjusted revenue was $22.49 billion, which also beat Street forecasts. Six analysts surveyed by Zacks expected $21.94 billion.
For the year, the company reported profit of $11.31 billion, or $19.23 per share. Revenue was reported as $86.94 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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