Chubb: 3Q Earnings Snapshot
ZURICH (AP) _ Chubb Corp. (CB) on Tuesday reported third-quarter profit of $1.19 billion.
On a per-share basis, the Zurich-based company said it had profit of $2.63. Earnings, adjusted for non-recurring gains, came to $2 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.
The insurer posted revenue of $10.09 billion in the period.
Chubb shares have fallen 21% since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 5%. In the final minutes of trading on Tuesday, shares hit $123.41, a fall of 17% in the last 12 months.