Investing.com - Progressive reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.
The firm reported earnings per share of $1.57 on revenue of $8.61B. Analysts polled by Investing.com forecast EPS of $1.13 on revenue of $8.37B. That compared to EPS of $0.82 on revenue of $7.14B in the same period a year earlier The company had reported EPS of $1.15 on revenue of $8.1B in the previous quarter.
Progressive shares gained 2,64% to trade at $67.99 in pre-market trade following the report.
For the year, Progressive shares are up 17.32%, outperforming the S&P 500 which is up 2.5% year to date.
Progressive follows other major Financial sector earnings this month
On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.
Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. Investing.com analysts expected EPS of $0.62 on revenue of $22.62B
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar