NORTHBROOK, Ill. (AP) — NORTHBROOK, Ill. (AP) — Allstate Corp. (ALL) on Wednesday reported first-quarter profit of $595 million.
On a per-share basis, the Northbrook, Illinois-based company said it had profit of $2.11. Earnings, adjusted for one-time gains and costs, came to $3.53 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The insurer posted revenue of $16.45 billion in the period. Its adjusted revenue was $16.8 billion.
Allstate shares have climbed roughly 3% since the beginning of the year, while the S&P’s 500 index has dropped slightly more than 5%. In the final minutes of trading on Wednesday, shares hit $198.39, a rise of 17% 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 ALL at https://www.zacks.com/ap/ALL
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