NEW YORK (AP) — NEW YORK (AP) — The Travelers Cos. (TRV) on Thursday reported first-quarter profit of $1.71 billion.
On a per-share basis, the New York-based company said it had profit of $7.78. Earnings, adjusted for investment gains, came to $7.71 per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $6.98 per share.
The insurer posted revenue of $11.92 billion in the period. Its adjusted revenue was $11.88 billion, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $12.34 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 TRV at https://www.zacks.com/ap/TRV
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