Progressive Earnings Miss, Revenue Beats In Q3

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Progressive announced earnings per share of $1.68 on revenue of $11.02B. Analysts polled by anticipated EPS of $1.71 on revenue of $10.78B.

Progressive shares are up 39.7% from the beginning of the year, still down 0.87% from its 52 week high of $102.02 set on October 13. They are outperforming the S&P 500 which is up 8.05% from the start of the year.

Progressive shares gained 0.86% in intra-day trade following the report.

Progressive’s report follows an earnings beat by JPMorgan on Tuesday, who reported EPS of $2.92 on revenue of $29.94B, compared to forecasts EPS of $2.23 on revenue of $28.22B.

UnitedHealth had beat expectations on Wednesday with third quarter EPS of $3.51 on revenue of $65.12B, compared to forecast for EPS of $3.09 on revenue of $63.77B.

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