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MAYFIELD VILLAGE, Ohio (AP) -- Progressive Corp. on Wednesday reported third-quarter earnings of $2.54 billion.
On a per-share basis, the company said it had profit of $4.37. Earnings, adjusted for investment costs, were $4.60 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.46 per share.
The insurer posted revenue of $23.19 billion in the period. Its adjusted revenue was $23.36 billion, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $23.41 billion.