Travelers swings to profit, but misses profit mark

NEW YORK (MarketWatch)
Travelers Cos. Inc. said Thursday it swung to a second-quarter profit of $499 million, or $1.26 a share, from a loss of $364 million, or 88 cents a share, in the year-ago period
Adjusted profit totaled $1.26 a share in the latest quarter
Revenue remained about flat at $6.36 billion
Wall Street analysts expected the insurance company to earn $1.34 a share on revenue of $6.04 billion, according to a survey by FactSet Research
The New York company said earnings were impacted by weather-related losses which fell from the year-ago quarter, but still came in "considerably higher than we would have expected based on historical experience."
During the quarter, Travelers booked $357 million in catastrophic losses
Travelers said it's "very pleased" with pricing trends in its businesses