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ZURICH (AP) — ZURICH (AP) — Chubb Corp. (CB) on Tuesday reported first-quarter net income of $1.33 billion.
On a per-share basis, the Zurich-based company said it had net income of $3.29. Earnings, adjusted for non-recurring costs, were $3.68 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.26 per share.
The insurer posted revenue of $13.35 billion in the period. Its adjusted revenue was $13.67 billion, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $14.16 billion.
Chubb shares have climbed 5% since the beginning of the year, while the S&P's 500 index has declined 10%. In the final minutes of trading on Tuesday, shares hit $290.42, an increase of 15% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CB at https://www.zacks.com/ap/CB