Reuters: Financial Services and Real Estate: UPDATE 1-Loews beats estimates on CNA Financial income

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Loews beats estimates on CNA Financial income Apr 30th 2012, 10:33 Mon Apr 30, 2012 6:33am EDT * Loews EPS $0.92 vs est $0.90 * Loews rev up 2 pct * CNA oper EPS $0.84 vs est $0.69 April 30 (Reuters) - Hotels, energy and financial services conglomerate Loews Corp posted higher-than-expected quarterly results, helped by an increase in investment income at its biggest holding CNA Financial. For the first quarter, net income attributable to Loews - run by the billionaire Tisch family - was $367 million, or 92 cents per share, compared with $379 million, or 92 cents per share, from a year ago. Analysts on average had expected the company to earn 90 cents per share, according to Thomson Reuters I/B/E/S. Revenue increased by 2 percent to $3.74 billion from the previous year. Net investment income at Loews increased to $726 million from $661 million, a year ago. CNA Financial saw its net operating profit increase to $226 million, or 84 cents per share, compared with $213 million, or 79 cents per share, from the previous year. Analysts had expected CNA Financial to earn 69 cents per share, according to Thomson Reuters I/B/E/S. Shares of Loews closed at $41.01 on Friday on the New York Stock Exchange. Shares of CNA Financial closed at $30.15. Link this Share this Digg this Email Reprints

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