Investing.com - Progressive (NYSE:PGR) reported fourth quarter earnings that beat analysts' expectations on Wednesday and revenue that fell short of forecasts.
The firm reported earnings per share of $1.22 on revenue of $7.94B. Analysts polled by Investing.com expected EPS of $1.02 on revenue of $7.99B. That compared to EPS of $0.82 on revenue of $7.12B in the same period a year earlier. The company had reported EPS of $1.31 on revenue of $8.6B in the previous quarter.
For the year, Progressive shares are up 7.33%, outperforming the S&P 500 which is up 6.7% year to date.
Progressive follows other major Financial sector earnings this month
On Tuesday, January 15, 2019, JPMorgan reported fourth quarter EPS of $1.98 on revenue of $26.8B, compared to forecasts of EPS of $2.2 on revenue of $26.84B.
Bank of America earnings beat analyst's expectations on Wednesday, January 16, 2019, with fourth quarter EPS of $0.7 on revenue of $22.74B. Investing.com analysts expected EPS of $0.63 on revenue of $22.35B
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