Why Travelers Companies Stock Crushed the Market Today
The company posted its second-quarter results on Friday morning.
Overview
Venerable insurer Travelers Companies (NYSE: TRV) was a standout on the stock market Friday, thanks mainly to a blowout second quarter earnings report. It trounced analyst bottom-line estimates, which inspired enough investors to buy the company's shares to send them to a more than 9% gain on the day.
For the quarter, Travelers' revenue inched up by 1% year-over-year to almost $12.2 billion, on the back of net written premiums that slumped by roughly the same percentage to $11.5 billion. The latter figure topped the consensus analyst estimate of $11.3 billion.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.