Progressive reported on Friday second quarter earnings
2022.07.15 17:35
Budrigannews.com – Progressive reported on Friday second quarter earnings that missed analysts’ forecasts and revenue that fell short of expectations.
Progressive announced earnings per share of $-0.94 on revenue of $12.15B. Analysts polled by Investing.com anticipated EPS of $0.9315 on revenue of $12.45B.
Progressive shares are up 9% from the beginning of the year, still down 8.10% from its 52 week high of $122.24 set on July 7. They are outperforming the S&P 500 which is down 20.47% from the start of the year.
Progressive shares lost 3.85% in pre-market trade following the report.
Progressive follows other major Financial sector earnings this month
Progressive’s report follows an earnings missed by JPMorgan on Thursday, who reported EPS of $2.76 on revenue of $30.72B, compared to forecasts EPS of $2.94 on revenue of $31.82B.
Wells Fargo&Co had missed expectations on Friday with second quarter EPS of $0.82 on revenue of $17.03B, compared to forecast for EPS of $0.8526 on revenue of $17.62B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
