Investing.com - Progressive (NYSE:PGR) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Progressive announced earnings per share of $2.85 on revenue of $9.54B. Analysts polled by Investing.com anticipated EPS of $1.64 on revenue of $10.5B.
Progressive shares are down 7.24% from the beginning of the year and are trading at $90.50 , down-from-52-week-high.They are under-performing the S&P 500 which is up 2.49% from the start of the year.
Progressive shares lost 1.33% in pre-market trade following the report.
Progressive follows other major Financial sector earnings this month
Progressive's report follows an earnings beat by JPMorgan on Friday, January 15, 2021, who reported EPS of $3.79 on revenue of $30.16B, compared to forecasts EPS of $2.62 on revenue of $28.67B.
UnitedHealth had beat expectations on Wednesday, January 20, 2021 with fourth quarter EPS of $2.52 on revenue of $65.47B, compared to forecast for EPS of $2.41 on revenue of $64.96B.
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