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Progressive Earnings, Revenue Beat in Q4 -Breaking

by Mike Robinson

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© Reuters. Progressive Earnings, Q4 Revenue Beat

Progressive reports on Wednesday that the fourth quarter beat analyst forecasts. The company also reported a record revenue.

Progressive posted earnings per share (EPS) of $1.63 for revenue $11.6B. Investing.com polled analysts and predicted EPS at $0.9935 for revenue $11.05B.

The stock of progressive shares is up 6.6% over the beginning of this year but still falls 1.65% from its 52-week peak of $111.13 on January 24. They are outperforming the S&P 500 which is down 8.6% from the start of the year.

Pre-market trade saw progressive shares gain 0.66% following the release.

This month, Progressive earnings follow other financial sector majors

Progressive’s report comes after JPMorgan beat them on earnings on January 14. They reported EPS for $29.26B on revenue, while forecasts predicted EPS for $3.01 on revenues of $29.78B.

Bank of America beat all expectations with a fourth quarter earnings per share of $0.82 on $22.06B in revenue, as compared to $0.7652 forecasted for $22.18B revenue.

Keep up to date with all the earnings reports coming soon by visiting Investing.com’s earnings calendar

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