09:01 AM EDT, 07/16/2024 (MT Newswires) -- Progressive (PGR) reported Q2 net income of $2.48 per share, up from $0.57 a year earlier.

Analysts polled by Capital IQ expected $1.77.

Net premiums written for the quarter ended June 30 were $17.90 billion, up from $14.72 billion from June 2023, while net premiums earned rose to $17.21 billion from $14.46 billion year-over-year, the insurer said.

The company said June net income was $1.37 per common share.

Net premiums written for the month were $5.75 billion, while net premiums earned were $5.78 billion, the company added.

Shares of the company were up 2.5% in recent Tuesday premarket activity.

Price: 222.50, Change: +5.40, Percent Change: +2.49