NEW YORK (AP) — NEW YORK (AP) — The Travelers Cos. (TRV) on Thursday reported a loss of $14 million in its second quarter.
On a per-share basis, the New York-based company said it had a loss of 7 cents. Earnings, adjusted for investment costs, came to 6 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The insurer posted revenue of $10.1 billion in the period. Its adjusted revenue was $10.13 billion, surpassing Street forecasts. Eight analysts surveyed by Zacks expected $10.11 billion.
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