Chubb: 2Q Earnings Snapshot
ZURICH (AP) _ Chubb Corp. (CB) on Tuesday reported second-quarter net income of $1.15 billion.
On a per-share basis, the Zurich-based company said it had profit of $2.50. Earnings, adjusted for amortization costs and non-recurring costs, were $2.60 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.58 per share.
The insurer posted revenue of $8.98 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $8.01 billion.
Chubb shares have risen 14% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Tuesday, shares hit $146.80, a rise of nearly 10% in the last 12 months.