Travelers beats by a mile, helped by tame weather conditions
Travelers reported quarterly earnings that far outpaced analysts' expectations on Tuesday, helped by favorable weather conditions and lower costs.
After the earnings announcement, the company's shares surged by nearly 3 percent in pre-market trading. ( (Click here to track the company's stock following the report.)
The company posted third-quarter earnings excluding items of $2.30 per share, up from $2.22 a share in the year-earlier period.
Revenue increased to $5.7 billion from $5.70 billion a year ago.
Analysts had expected the company to report earnings excluding items of $2.07 a share on $5.75 billion in revenue, according to a consensus estimate from Thomson Reuters.