Why Progressive Stock Was Topping the Market Today
In late-session trading Wednesday, investors were collectively see-sawing on their reaction to Progressive's (NYSE: PGR) first-quarter earnings release. That was understandable, as the company convincingly beat the consensus analyst for revenue, but posted weaker-than-expected net income.That indecision basically left the insurer's stock flat compared to Tuesday's closing price, but at least it was doing better than the bellwether S&P 500 index's 3%-plus drop.For the inaugural quarter of 2025, Progressive's net premiums earned (essentially, total revenue) was $22.2 billion, representing muscular 17% growth year over year. The insurer's net income also rose, albeit more modestly at a 10% rate to just under $2.6 billion, or $4.37 per share. Continue reading
In late-session trading Wednesday, investors were collectively see-sawing on their reaction to Progressive's (NYSE: PGR) first-quarter earnings release. That was understandable, as the company convincingly beat the consensus analyst for revenue, but posted weaker-than-expected net income.
That indecision basically left the insurer's stock flat compared to Tuesday's closing price, but at least it was doing better than the bellwether S&P 500 index's 3%-plus drop.
For the inaugural quarter of 2025, Progressive's net premiums earned (essentially, total revenue) was $22.2 billion, representing muscular 17% growth year over year. The insurer's net income also rose, albeit more modestly at a 10% rate to just under $2.6 billion, or $4.37 per share.
