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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 19.7B | 8.7% |
| Gross Profit | -6.69B | 20% |
| Cost of Revenue | 26.4B | 0.3% |
| Operating expense | 2.67B | 22.5% |
| Net Income | 2.33B | 60% |
| EBITDA | 3.09B | 54.4% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 105B | 7.5% |
| Total Liabilities | 78B | 4.7% |
| Total Equity | 27.2B | 16.4% |
| Shares Outstanding | 586M | 0% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 4.61B | 41.2% |
| Cash from investing | -4.42B | 35.5% |
| Cash from financing | -144M | 107.8% |
EPS
Financial Highlights for Progressive in Q3 '24
Progressive reported a revenue of 19.7B, which is a 8.7% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -6.69B, marking a 20% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 26.4B, a -0.3% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 2.67B, showing a 22.5% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 2.33B, showing a 60% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 3.09B, showing a 54.4% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Progressive with growth in revenue, gross profit, and net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
