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Progressive Corp reported a significant increase in its quarterly profit, driven by strong demand for auto insurance policies. The company's GAAP EPS of $2.48 surpassed estimates by $0.71, although net premiums earned of $17.21 billion missed expectations by $250 million. Progressive's stock rose 3% in premarket trading following the results, with shares up 3.5% overall. The insurer's second-quarter profit saw a more than fourfold jump, highlighting its status as a leading player in the financial sector.
Progressive's quarterly profit surges on strong demand for auto insurance policies https://t.co/XDoIj5Evcy https://t.co/7atZ7iRYOI
Progressive's quarterly profit surges on strong demand for auto insurance policies https://t.co/Oh7pdubvyv https://t.co/wbUeXr2TV1
🔵 PROGRESSIVE'S QUARTERLY PROFIT SURGES ON STRONG DEMAND FOR AUTO INSURANCE POLICIES Insurer Progressive Corp posted a more than fourfold jump in its second-quarter profit on Tuesday, driven by strong demand for its personal auto insurance policies, sending its shares up 3.5%…
