WASHINGTON (dpa-AFX) - Cincinnati Financial Corp. (CINF) reported a profit for its first quarter that increased from last year and beat the Street estimates.
The company's bottom line came in at $755 million, or $4.78 per share. This compares with $225 million, or $1.42 per share, in last year's first quarter.
Excluding items, Cincinnati Financial Corp. reported adjusted earnings of $272 million or $1.72 per share for the period.
Analysts on average had expected the company to earn $1.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 31.2% to $2.94 billion from $2.24 billion last year.
Cincinnati Financial Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $755 Mln. vs. $225 Mln. last year. -EPS (Q1): $4.78 vs. $1.42 last year. -Revenue (Q1): $2.94 Bln vs. $2.24 Bln last year.
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