Progressive Corp. Q1 Profit Advances, Beats estimates

(RTTNews) - Progressive Corp. (PGR) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $2.331 billion, or $3.94 per share. This compares with $447.9 million, or $0.75 per share, in last year's first quarter.

Analysts on average had expected the company to earn $3.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.5% to $17.242 billion from $14.303 billion last year.

Progressive Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $2.331 Bln. vs. $447.9 Mln. last year. -EPS (Q1): $3.94 vs. $0.75 last year. -Revenue (Q1): $17.242 Bln vs. $14.303 Bln last year.