Travelers: 2Q Earnings Snapshot
NEW YORK (AP) _ The Travelers Cos. (TRV) on Tuesday reported second-quarter profit of $557 million.
The New York-based company said it had profit of $2.10 per share. Earnings, adjusted for investment gains, were $2.02 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The insurer posted revenue of $7.83 billion in the period. Its adjusted revenue was $7.81 billion, which topped Street forecasts. Three analysts surveyed by Zacks expected $7.75 billion.
Travelers shares have climbed 25% since the beginning of the year, while the Standard & Poor’s 500 index has increased 19%. The stock has climbed 20% in the last 12 months.